Nasdaq-listed Perrigo Company has acquired an 85% stake in Mumbai-based Vedants Drugs and Fine Chemicals.
Sources revealed that Perrigo taken the decision on acquiring stake as it plans to make India a major global production base for the company.
Presently, Vedants is setting up a new European Union and US Food and Drug Administration- (FDA) complaint manufacturing facility at Ambernath, near Mumbai.
Perrigo Company is a leading global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription pharmaceuticals, nutritional products, active pharmaceutical ingredients (API) and consumer products. The company has production facilities in the US, Israel, United Kingdom and Mexico.
Source: Top News