India’s Ipca Labs Acquires U.S.-based Pisgah Labs

Mumbai-based Ipca Laboratories announced the acquisition of a 100 percent share capital of Pisgah Labs Inc., a North Carolina corporation, by the company’s wholly owned subsidiary Ipca Pharmaceutical Inc., U.S.A., and Onyx Scientific Ltd., U.K. (Ipca Labs’ wholly-owned step-down subsidiary) for $9.65 million, free of debt.

Since its incorporation in 1981, Pisgah has been a contract manufacturer and developer of active pharmaceutical ingredients and intermediates. For the financial year ended April 30, 2017, Pisgah Labs accrued a total income of $2.89 million and EBIDTA of $1.14 million.

Medication

“Onyx and Pisgah’s capabilities in chemistry services will dovetail effectively with the company’s capabilities in supporting Phase II to commercial scale programs and also enable the company to manufacture small volume active pharmaceutical ingredients for the U.S. market,” a company statement said.

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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