The transaction was finalised on August 26, 2024, through a share purchase agreement, subject to approval from IRDAI.
The USFDA has also approved Biocon Limited subsidiary's ANDA for Daptomycin for Injection (500mg Vial) for skin infections.
On another hand, the company logged a net profit of ₹23.9 Crore in the June quarter, down 52.2% from last year's ₹50 Crore.
In FY24, Paramount TPA collected ₹3,866 Crore in premiums from the group and retail divisions, resulting in a revenue of ₹153 Crore.
The shares were sold at an average price of ₹1,201 each, totalling ₹1,187.41 Crore. Infinity Partners acquired these shares.
According to sources, the floor price would be ₹5,616 per share, which is 3% lower than the current market price (CMP).
Drug company Jubilant Pharmova Ltd will acquire an 80% stake in Pierre Fabre Laboratories' Research & Development Centre in Saint Julien, France.
EBITDA increased by 10.2% to ₹391.1 Crore in the first quarter of this fiscal year, up from ₹355 Crore the previous year.
According to a stock exchange filing, the Company has received an Establishment Inspection Report (EIR) with Voluntary Action Indicated.
The company's first-quarter earnings before interest, taxes, depreciation, and amortisation (EBITDA) were ₹622 Crore.
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