Pharma Sector

The deal has been given the green channel route approval, which means that a transaction has been informed to the competition watchdog and poses no risk of having a significant negative impact on competition

The company has received all applicable approvals from key global regulators.

The demerger of the pharmaceuticals business and the streamlining of the corporate structure were agreed upon by PEL's board of directors in October 2021, converting the company from a multi-sector conglomerate to two distinct sector-focused listed corporations in financial services and medicines.

For the purpose of issuing and allocating 4 equity shares of Piramal Pharma (PPL) worth Rs10, each to Piramal Enterprises shareholders for every 1 equity share worth Rs2 each, the record date is set as September 1, 2022.

The brands are associated with diabetes medications.

GLS Pharma has now become the subsidiary of Aurobindo Pharma.

The acquisition will complement Dr. Reddy's U.S. institutional business with limited competition injectable products.

The said acquisition is for a total consideration of Rs28.05 crore.

Shailesh Gadre, Founder of GCV Life was the exclusive advisor for the transaction

Post purchase of shares, the target entity would become a wholly owned subsidiary of SPL.