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CAPSUGEL, a division of the worlds largest drug maker Pfizer, has procured Bharti Healthcare from Bharti Enterprises.The total enterprise value for the deal is approxiamtely Rs 88.1 crore. Capsugel acquired a 92.8% stake from Bharti at Rs 71 per share.Bharti Healthcare is Delhi-based company that manufactures empty hard gelatine capsule. "The decision to exit this venture is in keeping with our functional and operational specialisation and with a view to focus on businesses that are customer facing as well as scaleable. Capsugel, the new owners of our healthcare business is a world leader in their segment and is commited to ensuring continuity of business and to provide its customers the best in class products,"Rakesh Bharti Mittal, vice chairman of Bharti Enterprises, said in a company statement issued today.A statement from Pfizer stated,"In considering opportunities to enter the Indian market,Pfizer selected Bharti Healthcare based on the strong results and reputation built-up by the leadership of Bharti.Bharti Health care has been in the business of manufacturing and marketing of empty hard gelatine capsules since 1985.It has a plant located at Dharuhera,Haryana.Capsugel ,with 10 global manufacturing facilities, produces two-piece gelatine, and vegetarian capsules for the neutraceutical,pharmaceutical,and OTC (over-the-counter ) markets.
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| Posted : 12/21/2005 |
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