Ras Al Khaimah:
Gulf Pharmaceutical Industries
(Julphar), the leading
pharmaceutical manufacturer in the
region, acquired 12.2 per cent of
SMS Pharmaceutical for Rs300
million.
SMS
Pharmaceuticals is a specialist
company in the synthesis of active
pharmaceutical ingredients (API) in
India and one of the leading
producers of Ranitidine HCL in the
world. SMS Pharmaceutical is an FDA
approved API manufacturer and has a
considerable portfolio of API.
Abdul Razzaq Al
Yousef, Julphar's managing director
said the company itself was planning
to own facilities for synthesis of
APIs.
Taking into
consideration the strategic
advantages of joining hands with a
compatible partner instead of
erecting its own facilities, and
given the fact that SMS
Pharmaceuticals already had FDA's
approval, Julphar has invested Rs300
millions wile acquiring shares in
SMS Pharmaceuticals.
