Cadila Healthcare, Lupin, Sun Pharma & Torrent Pharma invest in ABCD Technologies

Geyatee Deshpande
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Cadila Healthcare, Lupin, Sun Pharma & Torrent Pharma invest in ABCD Technologies

Big names in the pharmaceutical industry have said that they have subscribed to partnership interest in ABCD Technologies LLP.  

ABCD Technologies LLP, which is a healthcare services firm, will later be renamed as IndoHealth Services LLP. Sun Pharmaceutical Industries, Cadila Healthcare, Lupin, and Torrent Pharmaceuticals are going to invest Rs 40 crore each in ABCD Technologies LLP. ABCD Technologies LLP is a recently incorporated limited liability partnership (LLP) and has not yet commenced any business activities, as per the press releases by the four pharma majors.  

The nature of consideration is in the form of cash infusion as a capital contribution. Sun Pharmaceutical Industries and Cadila Healthcare said that Rs 40 crore is for a 20 per cent share of the profit or loss in ABCD Technologies LLP. On the other hand, Lupin and Torrent Pharmaceuticals informed that Rs 40 crore is for up to 20 per cent share of the profit or loss in the newly-incorporated LLP.  

The initiative behind this partnership is to facilitate, enable & promote efficiency and good distribution practices (GDP) including digitisation of healthcare infrastructure in India. The proposed LLP structure would thereby ensure transparent & effective competition to the benefit of patients in India.  

On Friday, the shares of Sun Pharmaceutical Industries rose by 1.35 per cent, trading at Rs 585.15 per share. Torrent Pharmaceuticals increased by 1.24 per cent trading at Rs 2,475 per share while Cadila Healthcare gained 0.73 per cent, trading at Rs 423 per share. Meanwhile, Lupin traded down by 0.90 per cent at Rs 982.85 per share.  

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