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Orchid acquires Mano Pharma

By Our Staff Reporter

CHENNAI DEC. 17. Orchid Chemicals & Pharmaceuticals has acquired the assets, brands and business, including the plant of the Chennai-based formulations company, Mano Pharmaceuticals and its sister company Sali Healthcare in an all cash deal of Rs. 26 crores. Mano specialises in neuro-psychiatry, cardiovascular and anti-diabetic drugs.

Orchid, according to a release, was exploring an entry into speciality / chronic therapy areas in the formulations business. It chose Mano Pharma after reviews and due diligence by auditors and external agencies. The board of Orchid, which met yesterday, accorded its approval to the proposal. The deal will be effective after completing necessary formalities by the end of this month.

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