Indoco Remedies Acquires 85 Percent Equity Stake Of FPP Holding For Over Rs. 33 Crore From Contract Pharmacal Corp.

Written By Ruchika Sharma    Published On 6 June 2023 11:29 AM | Updated On 6 June 2023 12:02 PM

Mumbai: Indoco Remedies Limited, a fully integrated, research-based pharma company has acquired 85 percent of equity stake of the US-based FPP Holding Company, LLC for USD 4 million from Contract Pharmacal Corp. (“CPC”).

FPP Holding is the holding company of Florida Pharmaceutical Products, LLC which is based in Florida and engaged in marketing and distribution of generic pharmaceutical products in the USA.

“This development will facilitate exchange of knowledge and best practices, further enhancing the overall competitiveness and growth potential of both organizations. Leveraging FPP's well-established distribution network, Indoco will have a greater reach and accessibility to a wider US customer base”, said Aditi Panandikar, Managing Director – Indoco Remedies Ltd.

Indoco is a fully integrated, research-oriented pharmaceutical company with presence in 55 countries. TheCompany’s turnover is US$ 200 million.The Company has 9 manufacturing facilities, 6 for FDFs and 3 for APIs, supported by a state-of-the-art R&D Centre and a CRO facility. The facilities have been approved by mostof the Regulatory Authorities including USFDA and UK-MHRA. Indoco develops and manufactures a widerange of pharmaceutical products for the Indian and international markets. It generates more than 109 millionprescriptions annually from over 3,00,000 doctors belonging to various specialties. Indoco has 9 domesticmarketing divisions with a brand portfolio in various therapeutic segments including Gastro-intestinal,Respiratory, Anti-Infective, Stomatologicals, Ophthalmic, Nutritionals, Cardiovascular, Anti-Diabetics, PainManagement, Gyneacology etc. Top Indoco brands include Cyclopam, Febrex Plus, Sensodent-K, Karvol Plus,ATM, Oxipod, Cital, Sensoform, Sensodent-KF, Cloben-G, Glychek, Kidodent, Carmicide, Rexidin, MCBM 69,Methycal, Homide, Cal-Aid, etc. On the international front, Indoco has tie-ups with large generic companies across the globe.