INDIA > India Based Sriam Labs Acquired by Laurus Lab, a Subsidiary of Aptuit, a US Based Pharmaceutical

On August 24, 2016 by admin


The Foreign Investment Promotion Board of India just approved the downstream investment into Sriam Labs Private Limited (‘Sriam Labs’)

by purchase of 10,368,455 equity shares at Rs. 10 (Indian Rupees) each representing 73% of fully paid-up equity share capital of Sriam Labs from the existing shareholders for a total consideration of an amount of Indian Rs. 22.99 Crores (US$ 3.4 Million). With this Sriam Labs will become 100% wholly owned subsidiary of Laurus Labs.

Accornding to Bloomberg, Laurus Labs develops and manufactures a range of anti-retroviral, oncology, and various other APIs; offers specialty ingredients for use in nutraceutical/dietary supplements and cosmeceutical products; and provides contract manufacturing services, including analytical development, product development, and drug substance. Laurus Labs Private Limited was formerly known as Aptuit Laurus Private Limited. The company was founded in 2005 and is based in Hyderabad, India. As of June 17, 2007, Laurus Labs Private Limited operates as a subsidiary of Aptuit LLC.

Aptuit LLC is a Greenwich, Connecticut, USA based company that provides drug discovery and development services in the United States, India, Italy, and the United Kingdom.

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