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A leading manufacturer of pharmaceutical gelatine has purchased the manufacturing facility of Torrent Gujarat Biotech in an all-cash deal. The plant, located at Masar in Gujarat, will be used to make specialised gelatine derivatives such as fish gelatine, Hydrolysed gelatine and fermentation based nutraceuticals such as enzyme Q10(Co-Q10). These gelatine derivatives and nutraceuticals have been developed by Sterling For its existing customers in regulated markets. Hydrolysed gelatine has multiple applications in pharmaceutical and neutraceutical industries. Co-Q10 is a fast growing Nutraceutical that some believe is beneficial in preventing cardiovascular diseases, Parkinsons and Alzheimers. The market is controlled mainly by a few Japanese players And Sterling plans to emerge as significant global player in this segment. Sterling Biotech currently has a 7.5% share of the global market for pharmaceutical and nutraceutical gelatines . It has more than 70% market share in India. The company has recently concluded a Singapore-listed FCCB issue of $175m with a conversion price of Approximately Rs 185, about 24% premieum over the closing price of the stock on the date of closing.
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| Posted : 10/14/2005 |
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