Granules India up 4% as arm acquires 12.5% stake in USpharma – Feedback

Granules India shares rallied 4 percent intraday Thursday after its subsidiary picked up 12.5 percent stake in a US-based pharmaceutical company.

“Granules Pharmaceuticals Inc has entered into an agreement with USpharma to acquire 12.5 percent of its stake,” says the Hyderabad-based company in its filing. This investment will enable Granules to participate in product selection and have right of first refusal to market the select products which are under development by USpharma. USpharma in collaboration with manufacturing partners had submitted five abbreviated new drug application (ANDAs) with paragraph IV certifications, out of which four ANDAs have already been outlicenced to Granules exclusively, says the company.

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