Granules India, a pharmaceutical maker, today announced the signing of a definite agreement for the acquisition of Auctus Pharma, a manufacturer of active pharma ingredients.
Both the companies did not reveal the financial details of the transaction.
The acquisition process is expected to be completed in the next 3 to 6 months, a release from Hyderabad-based Granules India said.
Auctus has an API (active pharma ingredients) facility at the Pharmacity in Vishakhapatnam and an intermediate facility in Hyderabad.
The API facility has approvals from regulatory agencies including the US FDA, Health Canada and WHO-GMP, the release said.
Krishna Prasad, Managing Director, Granules India said Auctus provides Granules with an API platform having US FDA approved site to strengthen its finished dosage division.
"Granules will offer tremendous value to customers since we can provide supply security all the way from key intermediates to finished dosages for these products. We will be a market leader by implementing our operational excellence philosophy while leveraging Auctus' regulatory approvals," Krishna Prasad said.