Ipca Labs buys majority stake in US firm Bayshore

Image credit- vabioethics.com

Mumbai-based Ipca Laboratories Ltd has acquired an 80 per cent stake US drug marketing company Bayshore Pharmaceuticals LLC for $10.23 million (Rs 75 crore) in cash.

The acquisition will enable Ipca to commercialise its registered generics drugs in the US. This is the second acquisition by Ipca Labs this year. In January, it had bought American pharmaceutical company Pisgah Labs for $9.65 million.

Ipca Labs manufactures branded and generic formulations, and bulk drugs. It has previously made several similarly-sized acquisitions, including in the US.

Bayshore was founded in 2011. It sells and markets its own registered generics drugs as well as those of other pharmaceutical companies.