Dishman set to acquire UK company

EPP News Bureau - Mumbai

Dishman Pharmaceuticals and Chemicals Ltd is set for a strategic acquisition with an UK-based contract research company through its 100 per cent wholly owned subsidiary company namely Dishman Europe Ltd.

The managing director J R Vyas will negotiate and finalise the terms of acquisition and execute the necessary documents in this regard. This acquisition will strengthen the business model of Dishman Group, said a company press communique.

Being a R&D driven company, Dishman has focused on custom chemicals synthesis. It undertakes contract research for patent/license holders of either recently patented products or for their generic products to be

marketed in the regulatory markets and supply of trial products. It also enters into long-term supply contracts for the supply of APIs/intermediates on a long-term basis, the communique added.

The company operates in two different segments namely bulk drugs, quats, intermediates and specialty chemicals and contract research and manufacturing (CRAMS). The company notched up sales of Rs 129 crore during the year 2003-04, of which export turnover was Rs 95 crore. The net profit touched to Rs 18.43 crore.