Natco Pharma stock gains after US-based subsidiary completes acquisition of Dash Pharma for $18M

3 Jan 2022 , 02:18 PM

Natco Pharma‘s wholly-owned subsidiary, NATCO Pharma Inc. USA, has completed the acquisition of Dash Pharmaceuticals LLC (“Dash”), a New Jersey-based entity.

Pursuant to this, Dash will become a 100% wholly-owned subsidiary of NATCO Pharma Inc. and a step-down subsidiary of NATCO.

The acquisition was valued at $18 million.

Natco Pharma said that this acquisition provides NATCO with a platform to engage with its customers directly in the USA which is the largest pharmaceutical market in the world.

Dash is a front-end pharmaceutical sales, marketing and distribution entity in the USA which is expected to have Net Sales of approximately $15 million for the financial year ending December 2021.

At around 2.16 pm, Natco Pharma was trading at Rs914 per piece up by 1.1% on Sensex. The stock was near the day’s high of Rs919.95 per piece.