Indoco Remedies picks up 85% stake in FPP Holding

6 Jun 2023 , 10:20 AM

Indoco Remedies Limited informed that it has acquired an 85% equity stake in the US-based FPP Holding Company, LLC.

The company has acquired FPP for a consideration of USD 4 million from Contract Pharmacal Corp. (CPC). The acquisition is subject to the fulfillment of all applicable conditions precedent as mutually agreed upon by the parties.

FPP Holding serves as the parent company for Florida Pharmaceutical Products, LLC (FPP), a Florida-based company involved in the marketing and distribution of generic pharmaceutical products within the United States. 

‘This development will facilitate the exchange of knowledge and best practices, enhancing overall competitiveness and growth potential of both organizations. Indoco will have a greater reach and accessibility to a larger US customer base by leveraging FPP’s well-established distribution network,’ said Aditi Panandikar, Managing Director of Indoco Remedies Ltd.

Indoco’s strategic investment represents a notable achievement, firmly establishing its position as a major player within the US market.

According to the company’s official media filing, the alignment between FPP Holding, FPP, and Indoco in the pharmaceutical industry would create synergistic benefits. Indoco’s core expertise lies in pharmaceutical manufacturing, while FPP Holding, operating through FPP, excels in the distribution and marketing of pharmaceutical products in the USA.

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