Granules

Granules India to acquire Auctus Pharma for Rs 120 crore

Granules India to acquire Auctus Pharma for Rs 120 crore

Hyderabad-based drug maker Granules India Ltd on Monday announced that it would acquire active pharmaceutical ingredient (APIs) maker Auctus Pharma Ltd for Rs 120 crore.

Granules also said that the all-cash deal would be funded through the company's internal accruals and debt, and that the deal would be finalized in next 3-6 months.

Granules, which generated Rs 784.4 crore in revenue in the twelve months to March 31, makes APIs like anti-inflammatory drug ibuprofen, anti-diabetic drug metformin, respiratory drug guaifenesin, and painkiller drug paracetamol.