Navigation Links
Orchid to Buy out Bexel Pharma, US

Looking to consolidate its research activities under a common umbrella, Orchid Chemicals & Pharmaceuticals Ltd today said it will buyout US-based Bexel Pharmaceuticals Inc by acquiring a 26 per cent stake // , for over Rs 13 crore (three million dollars).

The company holds a majority 74 per cent stake in Bexel Pharma and would acquire the remaining 26 per cent stake as a part of an agreement reached between the two companies to bring the drug discovery activities under a unified structure, Orchid informed the Bombay Stock Exchange.

Orchid said that "bringing all drug discovery activities under a unified structure will provide seamless integration of the several drug discovery programmes being pursued at the company and Bexel, while retaining the advantages of having a discovery front-end in the US and a discovery-cum -developmental back-end at the company in Chennai." As part of the agreement, Orchid Pharma would grant 6.50 lakh stock options to Bexel's founders and key employees for subscription at a grant price, the company added.

Orchid said it had already established a wholly owned subsidiary, Orchid Research Laboratories Ltd (ORLL) to channel its drug discovery work.

Bexel has been focusing on drug discovery research in metabolic diseases such as diabetes, obesity and auto-immune diseases, while Orchid has been focusing on inflammation, cancer and anti-infective areas.

Source:PTI News

Page: 1

Related medicine news :

1. Orchid Gets USFDA Nod for Cephalexin
2. Orchid gets FDA Approval for Cefotaxime Injections
Post Your Comments:

(Date:11/25/2015)... ... 2015 , ... The holiday season is jam-packed with family ... of attendees is of the utmost importance. Whether you are cooking at home ... recipes a try this holiday season. , Turkey Croquettes ,     Ingredients: ...
(Date:11/25/2015)... ... 2015 , ... Ministers, senior government and UN agencies, representatives ... of Excellence, and public R&D institutions, civil societies and other partners gathered today ... African Network for Drugs and Diagnostics Innovation, ANDI, Stakeholders Meeting. The three- day ...
(Date:11/25/2015)... ... 25, 2015 , ... Dental professionals who would like to become more proficient ... attend Dr. Mark Iacobelli’s Advanced Implant Mentoring (AIM) CE course. Courses will be held ... the co-founders of Advanced Implant Mentoring (AIM), Dr. Iacobelli and Dr. D’Orazio are proud ...
(Date:11/25/2015)... ... November 25, 2015 , ... Smiles by Stevens ... Bruxism, and moderate facial wrinkling. While many patients are aware of the benefits of ... success Botox® delivers to those suffering with discomfort, soreness, and pain as a result ...
(Date:11/25/2015)... , ... November 25, 2015 , ... “While riding the ... inventor, from Bronx, N.Y. “I thought there had to be a convenient and comfortable ... PROTECTOR. , The PROTECTOR enables disabled individuals to safely travel during cold or inclement ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... 3D bioprinting market is expected ... new report by Grand View Research Inc. Rising prevalence of ... kidney transplantation is expected to boost the market growth, as ... transplantation. --> 3D bioprinting market is expected ... new report by Grand View Research Inc. Rising prevalence of ...
(Date:11/26/2015)... , November 26, 2015 ... the addition of the  "2016 Future ... Global Cell Surface Testing Market: Supplier ... to their offering.  --> ... of the  "2016 Future Horizons and ...
(Date:11/26/2015)... Research and Markets ( ) has ... Market by Type (Dressings, Therapy Devices, Active Wound Care), ... Facility), and Geography - Global Forecast to 2020" ... --> The purpose of this report ... the global advanced wound care market. It involves deep ...
Breaking Medicine Technology: