Updated on 16 December 2013
"The transaction is a strategic fit for Torrent and will strengthen its core prescription-based business. This acquisition strengthens our position in the women healthcare, pain management and vitamins and Nutrition segments by enhancing and accelerating market access. It is also expected to enable cost & revenue synergies in Torrent's domestic formulations business" said Mr Sudhir Mehta, chairman, Torrent Group.
The transaction has been approved by the boards of directors of both companies. The transaction is subject to customary conditions precedent including shareholder approval and applicable regulatory approvals and is expected to close in the first half of 2014.