This small-cap company acquires 85 per cent equity stake in US based FPP holding company!
The company’s strategic investment in FPP Holding marks a significant milestone, strengthening its position in the US market.
Indoco Remedies Ltd is a fully integrated, research oriented pharmaceutical company with presence in 55 countries. The company develops and manufactures a wide range of pharmaceutical products for the Indian and international market. The Company has 9 manufacturing facilities, supported by a state-of-the-art R&D centre and a CRO facility. The facilities have been approved by most of the regulatory authorities including USFDA and UK-MHRA.
On June 6, 2023, Indoco Remedies Ltd has successfully acquired 85 per cent equity stake in FPP Holding Company, LLC, a US-based company, for USD 4 million from Contract Pharmacal Corp. (CPC). FPP Holding serves as the holding company for Florida Pharmaceutical Products, LLC (FPP) and specialises in the marketing and distribution of generic pharmaceutical products within the USA.
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The company’s strategic investment in FPP Holding marks a significant milestone, strengthening its position in the US market. The exchange of knowledge and access to FPP's distribution network will enhance competitiveness and growth potential. Ms. Aditi Panandikar, Managing Director of Indoco Remedies, expressed confidence in gaining a broader customer base in the US.
Over the past 3 years, the company has delivered impressive returns of 55 per cent and substantial returns of 72 per cent over the past 5 years. Furthermore, the company has achieved a sales growth of 15 per cent (CAGR) and a remarkable profit growth of 80 per cent (CAGR) during the same 3-year period.
On Tuesday, shares of Indoco Remedies Ltd plunged by 0.18 per cent from the previous close of Rs 333.55.
Investors should keep a close eye on this smallcap stock!