CCI approves acquisition of majority shareholding in Optimus Drugs by Sekhmet Pharmaventures
Deals beyond certain thresholds require approval from CCI, which keeps a tab on anti-competitive practices in the market place.
New Delhi: The Competition Commission of India on Friday approved the proposed deal involving Sekhmet Pharmaventures and Optimus Drugs Pvt Ltd.
Under the transaction, Sekhmet would buy a majority shareholding in Optimus Drugs.
The fair trade regulator also approved Optimus Drug's acquisition of shareholding in Optimus Pharma Pvt Ltd and Optimum Life Science Pvt Ltd.
In a tweet on Friday, the watchdog said it has approved acquisition of majority shareholding in Optimus Drugs by Sekhmet Pharmaventures as well as Optimus Drug's purchase of stakes in Optimus Pharma and Optimus Life Science.
In May, a consortium of private equity funds led by PAG announced that they will acquire a controlling stake in Hyderabad-based pharma company Optimus Drugs for Rs 2,000 crore.
Sekhmet Pharmaventures Pvt Ltd is a private company and belongs PAG Group.
Optimus Drugs is into the manufacture and sale of APIs (Active Pharmaceutical Ingredients) and pharmaceutical intermediaries while Optimus Pharma is engaged in the manufacture and sale of finished dosage formulations.
Optimum Life Science is into marketing of FDFs (Finished Dosage Forms) for its group companies in India.
Deals beyond certain thresholds require approval from CCI, which keeps a tab on anti-competitive practices in the market place.
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