Shasun inks pact with SeQuent Scientific to form JV

Tags: Companies
Shasun Pharmaceuticals today inked an deal with SeQuent Scientific to form a joint venture firm to develop and sell veterinary products in global markets.

The company has signed the joint venture agreement with SeQuent to develop, manufacture and sell veterinary products including both API (active pharmaceutical ingredients) and formulations to cater to the global market, Shasun Pharmaceuticals said in a filing to the BSE.

Last year, the companies had inked a Letter of Intent (LOI) to form the joint venture firm.

"In line with the joint venture agreement, company has also executed today a slump sale agreement, transferring its Vizag facility to JV Company," Shasun said.

SeQuent and Shasun will hold 73 per cent and 27 per cent stakes respectively in the JV firm, which is expected to be operational in the first quarter of 2014-15, it added.

Shasun shares were trading at Rs 76.25 apiece on the BSE in the afternoon trade, down 1.49 per cent from its previous close.

EDITORIAL OF THE DAY

  • Finance minister has been pragmatic in exempting FIIs from MAT claims

    Good sense has finally prevailed in the government, with finance minister Arun Jaitley announcing the income-tax officials will exempt overseas funds

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Amita Sharma

Centre set to scrap 60:40 norm for NITs

A committee set up by the ministry of human resource ...

Zehra Naqvi

If you bend, you won’t break

There’s an ancient exercise about a green, supple new branch ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture