India, Oct. 5 -- Sai Parenterals Limited has completed the acquisition of a 60% equity stake in Prathyak Laboratories Private Limited, an operational research and development facility located at Genome Valley, Hyderabad, for Rs 15 crore.
The acquisition has been funded through the unutilised net proceeds from the company's IPO. Following the transaction, Prathyak Laboratories has become a direct subsidiary of Sai Parenterals and has been renamed Sai Prathyak Laboratories Private Limited.
The acquisition replaces the greenfield R&D centre that Sai Parenterals had originally planned to establish. With Prathyak already operational for three years, the company gains access to 28 research scientists and a development pipeline comprising 150 SK...