Ortin Laboratories is acquiring Vineet Laboratories Pvt Ltd through share swap deal.

M M Reddy & Co (Chartered Accountants) has been appointed to conduct the valuation of companies.

Established in 2003, Hyderabad-based Vineet Laboratories is engaged in manufacturing of fine chemicals, custom synthesis and specialized in making bulk drug intermediates like anti retro vitals and lipid lowering agents etc.

Transaction Reference: Myiris

Established in 1986, Ortin Labs manufactures and supplies pharmaceutical and allied products in India. It exports its products primarily to Kenya. Its manufacturing unit is located in Patancheru, Andhra Pradesh.

For 2009-10, it earned a revenue of Rs.31.42 Cr with a net profit of Rs.0.88 Cr.

Vineet Laboratories reported an increase of 29.72% increase in turnover from Rs.37 Cr in 2008-09 to Rs.48 Cr in 2009-10. Its net profit also increased by 11.11% from Rs.3.69 Cr in 2008-09 to Rs.4.10 Cr for 2009-10.

In the pharma and healthcare space, for the past few months there have been some M&A's (both inbound and outbound). Among them, the major was Abbott's acquisition of Piramal Healthcare unit for $3.72 Bn. Super Religare Laboratories acquired Piramal's other business - Piramal Diagnostic Services Pvt Ltd. Cipla acquired 40% stake in Goa-based Mabpharm for US$40mn and a 25% holding in Shanghai-based BioMab for US$25mn

Bafna Pharmaceuticals is also looking to acquire an UK company to expand its UK footprint

Previous Article

Nilkamal Raises Rs 60 Cr Via QIP

Next Article

Sheth Creators Raises R80Cr From IIFL PE