ABCD Technologies onboards 9 new investors including Glenmark, Alembic pharma
New Delhi: With the aim of building the IT infrastructure and supply chain required for pharmaceutical distribution, ABCD Technologies LLP (to be renamed IndoHealth Services LLP) has revealed the addition of nine new partners to its initiative, including Glenmark Pharmaceuticals Ltd, Emcure Pharmaceuticals Ltd, USV Private Ltd, Micro Labs Ltd, Alembic Pharmaceuticals Ltd, Cadila Pharmaceuticals Ltd, Ajanta Pharma Ltd, Ipca Laboratories Ltd and Intas Pharmaceuticals Ltd.
The Medical Dialogues team had earlier reported that drug majors Sun Pharma, Lupin, Cadila Healthcare and Torrent Pharma had subscribed to a partnership interest in healthcare services firm ABCD Technologies LLP. With this regard, these four pharma majors had invested Rs 40 crore each for 20% in the newly formed venture ABCD Technologies, with the stated objective of facilitating efficient goods distribution and digitizing healthcare.
Also Read:Drug Giants including Cipla, Sun Pharma come together for better drug distribution
Furthermore, IPCA Laboratories has recently announced that it will invest Rs 25 crore in ABCD Technologies, acquiring a 4.03 percent stake by April 30.
In addition to this, reports are flowing that drugmakers Glenmark Pharmaceuticals Ltd, Emcure Pharmaceuticals Ltd, USV Private Ltd, Micro Labs Ltd, Alembic Pharmaceuticals Ltd, Cadila Pharmaceuticals Ltd, Ajanta Pharma Ltd, and Intas Pharmaceuticals Ltd have partnered with ABCD Technologies LLP (to be renamed IndoHealth Services LLP) with an objective of facilitating efficient goods distribution and digitizing healthcare, reports BioSpectrum.
According to the latest VCcircle report, Glenmark Pharmaceuticals and Alembic Pharmaceuticals each invested Rs 40 crore in ABCD Technologies in exchange for a 6.45% stake.
ABCD Technologies LLP (to be renamed IndoHealth Services LLP) had acquired a 91.8 percent stake in healthcare platform Pharmarack for Rs 111 crore.
Apart from Pharmarack, the entity had also acquired the pharmaceutical market research firm AIOCD Pharmasofttech AWACS Pvt. Ltd for Rs75 crore, with two-thirds being acquired now and the remaining stake over the next few months. That acquisition took place through a combination of direct purchase of 50 per cent ownership interest in AWACS and indirect purchase of 16.02 per cent ownership interest in AWACS, through the acquisition of 32.04 per cent shareholding interest in Trikaal Mediinfotech Pvt Ltd.
