Lyka board to consider merger of two subsidiaries with itself

NEW DELHI: Drug firm Lyka Labs today said its board of directors will meet next week to consider the merger of the company's subsidiaries Lyka Healthcare and Lyka Exports with itself.

"A meeting of the Board of Directors of the company will be held on March 11, 2016, to consider / discuss / approve merger of Lyka Healthcare Ltd, a wholly owned subsidiary and Lyka Exports Ltd, a subsidiary with Lyka Labs Ltd," Lyka Labs said in a BSE filing.

In August, in a regulatory filing Lyka Labs had said that its board had given consent to Lyka Exports to sell its animal healthcare division to Alivira Animal Health, a subsidiary of SeQuent Scientific.

Incorporated in 1976, Lyka manufactures pharmaceutical formulations and active pharmaceutical ingredients ( APIs) across various therapeutic segments.