The city-based pharmaceutical firm Granules India has signed an agreement with Actus Pharma to acquire the Active Pharmaceutical Ingredients (API) manufacturer. The acquisition process will take another three to six months, according to a press release.
Auctus has two manufacturing facilities, one at Visakhapatnam which makes APIs and the other in Hyderabad that manufactures intermediaries. The API facility has approvals from leading regulatory agencies including US FDA, Health Canada, KFDA and WHO-GMP. Besides, Auctus has customers in fifty countries.
“We will be market leader by implementing our operational excellence philosophy while leveraging Auctus’ regulatory approvals,” said Krishna Prasad, managing director, Granules India.
This apart, Granules has also announced the opening of a 10,000 sq ft research and development facility in Hyderabad to focus on full scale generic API development. Its existing R&D facility in Pune focuses on sustainable technology development.
Recently, the company has projected to cross Rs. 1,000 crore revenue mark for the fiscal. The net profit of the company was up by record 87 per cent at Rs. 15 crore for the second quarter of the current fiscal. The consolidated net revenue of the company stood at Rs. 266 crore.