India, Sept. 3 -- image credit- freepik

Mumbai-based RPG Life Sciences has announced that its wholly owned subsidiary, RPG Active Pharma (RPGAP), has entered into a Business Transfer Agreement to acquire the Active Pharmaceutical Ingredients (API) and Intermediates business undertaking of Raghava Life Sciences on a going-concern basis through a slump sale.

Acquisition of the API and intermediates business undertaking for consideration up to Rs 135 crore, subject to customary adjustments and closing conditions, adds approximately 300 KL of installed capacity in a state-of-the-art EU-GMP approved plant and a portfolio of 22 commercialised APIs plus 7 under development, with strong regulatory approvals.

The acquisition is the next step in...