Genpharmasec To Acquire 70% Stake in DHPL For Long-Term Strategic Goals

Derren Healthcare Private Limited (DHPL) and Genpharmasec Limited (SSSA) have signed a share purchase and share subscription cum shareholders' agreement (SSSA). Following that, Genpharmasec will gradually acquire a 70% share in DHPL over the course of a year. The transaction will be carried out in accordance with Genpharmasec's long-term strategic objectives. The corporation intends to generate significant value by doing so.

The transaction includes a 70% ownership in DHPL, which encompasses all manufacturing plants as well as land and buildings. DHPL offers a diverse portfolio of more than 100 approved medications, as well as a strong R&D department with 20 additional products in the pipeline. DHPL is engaged in the development of pharmaceutical products in the field of generic and innovative finished formulations. To this end, the company conducts specialised research.

The company has approvals from Gujarat FDA and WHO GMP certification as it works to obtain approvals from regulators of several international markets, as per livemint. Generic Pharmasec Limited, founded in 1992, began as a manufacturer and trader of organic and inorganic chemicals, dyes, and pigments. From 2018 onwards, the company moved its focus to the acquisition, sale, and distribution of various pharmaceutical, medicinal, and therapeutic preparations. Regarding the development, Rajesh Mirchumal Sadhwani, promoter and director of Genpharmasec Limited, stated, "Today marks a landmark occasion for Genpharmasec Limited [The Company] with our Board approving the execution of Definitive Agreement with Derren Healthcare Private Limited and its Shareholders as a first significant step towards our long-term strategic move for diversification for our journey beyond."