Plethico looking for acquisitions in the US
Drug maker Plethico Pharmaceuticals on Monday said it is looking to acquire retail pharmacy chains, pharmaceutical companies or standalone manufacturing units in the US in order to strengthen its operations globally.
By PTI |
MUMBAI: Drug maker Plethico Pharmaceuticals on Monday said it is looking to acquire retail pharmacy chains, pharmaceutical companies or standalone manufacturing units in the US in order to strengthen its operations globally.
The company's board at a meeting held today gave its consent to various acquisition proposals that have been received, Plethico informed the Bombay Stock Exchange.
Plethico has also received a proposal from Azydar Global Establishment -- one of its partners in Kazakhstan-based Rezlov group -- to set up a Greenfield manufacturing facility in Europe or Middle East to cater to the high-end market in the US, Europe and the Gulf Cooperation Council.
The board has authorised the company to review and evaluate the proposal, the statement said without giving any further details.
The company's board also approved adoption of a January-December financial year from the presently followed period of October to September, Plethico said.
It said shifting financial year would help the company in aligning its business with its global operations.
The company's board at a meeting held today gave its consent to various acquisition proposals that have been received, Plethico informed the Bombay Stock Exchange.
Plethico has also received a proposal from Azydar Global Establishment -- one of its partners in Kazakhstan-based Rezlov group -- to set up a Greenfield manufacturing facility in Europe or Middle East to cater to the high-end market in the US, Europe and the Gulf Cooperation Council.
The board has authorised the company to review and evaluate the proposal, the statement said without giving any further details.
The company's board also approved adoption of a January-December financial year from the presently followed period of October to September, Plethico said.
It said shifting financial year would help the company in aligning its business with its global operations.
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