INDOCO REMEDIES LTD.

INDOCO REMEDIES LTD. - Updates

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01 Apr 2015
Indoco Remedies Ltd has informed BSE that the Company on April 01, 2015 announced the acquisition of the Clinical/Contract Research Organisation (CRO) division of Piramal Enterprises Ltd (PEL). The Acquisition will be effective April 06, 2015 and Indoco Remedies Limited will acquire the assets of the division along with its employees in an all cash-deal and the same would be funded via internal accruals.<BR> <BR>Equipped with a 98-bed facility, the CRO (formerly known as Wellquest), is located in Hyderabad and spread across 30,000 square feet. It is equipped with monitoring stations, phlebotomy stations, four-bed ICU, state-of-the-art analytical lab and capabilities of eCTD submission.<BR><BR>It also has regulatory approvals from several bodies including USFDA and was the first CRO from India to receive GCP certification from UK-MHRA.<BR><BR>The Company does not belong to PEL's promoter / promoter group/group companies and is not a related party.
View all announcements for INDOCO REMEDIES LTD.	Source: BSE India

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