NATCO completes acquisition of Dash Pharmaceuticals LLC

NATCO Pharma Inc. USA, a wholly owned subsidiary of NATCO Pharma Limited (NSE: NATCOPHARM; BSE: 524816) ("NATCO"), has completed the acquisition of Dash Pharmaceuticals LLC ("Dash"), a New Jersey based entity. Pursuant to this, Dash will become a 100% wholly owned subsidiary of NATCO Pharma Inc. and a step-down subsidiary of NATCO. The acquisition amount paid is US$ 18 million.

Dash is a front-end pharmaceutical sales, marketing and distribution entity in the USA which is expected to have Net Sales of approximately USD 15 million for the financial year ending December 2021.

This acquisition provides NATCO with a platform to engage with its customers directly in the USA which is the largest pharmaceutical market in the world.

Shares of Natco Pharma Limited was last trading in BSE at Rs. 904.00 as compared to the previous close of Rs. 894.90. The total number of shares traded during the day was 15119 in over 1082 trades.

The stock hit an intraday high of Rs. 906.00 and intraday low of 891.90. The net turnover during the day was Rs. 13601053.00.

Source : Equity Bulls

Keywords

NatcoPharma INE987B01026 NATCOPHARM Pharmaceuticals Acquisition DashPharmaceuticalsLLC NewJersey