SeQuent Scientific, an integrated pharmaceutical company, today announced that Alivira Animal Health and Lyka Exports have entered into a definitive agreement under which Alivira will acquire the Animal Health business of Lyka Exports on a 'going concern' basis.
Alvira Animal Healthcare is the subsidiary company of SeQuent and Lyka Exports is the subsidiary company of Lyka Labs.
The proposed acquisition of Lyka's Animal Health business includes all IPRs, sales, marketing, distribution network with related employees, contracts, assets and liabilities.
The transaction is expected to close in next 6 weeks subject to customary closing conditions including shareholders' approval of Lyka Exports.
Manish Gupta, MD of SeQuent commented, 'This acquisition augurs well for achieving Alvira's strategic investments in place. The combined organization would have over 250+ strong field force coupled with a significantly wider product portfolio in the market.'
In FY15, Lyka's animal health business registered revenues of approx. Rs 235 million with EBITDA margins in the range of 12%.
Shares of the company gained Rs 10, or 1.21%, to trade at Rs 835.00. The total volume of shares traded was 21,996 at the BSE (1.16 p.m., Friday).