SeQuent Scientific has announced that it will acquire a controlling stake in Indo Phyto Chemicals (IPC), a New Delhi-based pharmaceutical company that focuses on female healthcare.
IPC has a portfolio of steroids and hormonal active pharmaceutical ingredients (APIs) along with a manufacturing base in Uttarakhand. The company has capabilities in fermentation and chemical synthesis, giving it the ability to produce APIs from the basic starting materials that are extracted from plants. IPC currently produces 14 APIs and has 20 more under development.
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Under the terms of the agreement, SeQuent will acquire 51% of IPC. The remaining 49% will continue to be held by IPC’s promoters, who will join the SeQuent management team.
SeQuent is an integrated pharmaceutical company operating in the domains of animal health (API and formulation), niche human health (API) and analytical services. It is based in Mumbai and has seven manufacturing facilities in India and Turkey.
Khaitan & Co advised IPC and the sellers on the sale. The team consisted of partner Bharat Anand, senior associate Tanvi Kumar and associate Vrinda Agarwal.
Nishith Desai Associates advised SeQuent.
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