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:
*Name:
*Comment:
*Email:


(Date:10/13/2017)... ... October 13, 2017 , ... ... Arkansas that offers insurance and financial preparation services, is providing an update on ... Rescue organization. , Rock City Rescue is a locally recognized nonprofit that provides ...
(Date:10/13/2017)... ... October 13, 2017 , ... PurhealthRX , a leading Health ... technology. Applying the Purzorb™process to full spectrum CBD oil will revolutionize the rapidly growing ... form that can be easily incorporated into liquid products, while reducing costs to end ...
(Date:10/13/2017)... ... 13, 2017 , ... The Visiting Nurse Association (VNA) of Somerset Hills is ... vendors and unique items from across the nation, this holiday-themed event will raise funds ... by the VNA. The boutique will be open Saturday, November 4 (10:00 a.m. ...
(Date:10/13/2017)... VA (PRWEB) , ... October 13, 2017 , ... ... of DevOps and Agile Software Development, has been awarded a contract by the ... Blanket Purchase Agreement (BPA) aims to accelerate the enterprise use of Agile methodologies ...
(Date:10/12/2017)... ... October 12, 2017 , ... Planet Fitness, one of the ... today its plans to open a flagship location in Covington, LA at 401 N. ... To Go store next to Office Depot in the Holiday Square shopping center. Its ...
Breaking Medicine News(10 mins):
(Date:10/12/2017)... --  Divoti USA will engrave and process all ... the latest FDA requirements, which stipulates new criteria regarding medical device ... of Medical ID jewelry such as Medical ID Bracelets, can rest ... terms of the new FDA requirements . ... Divoti offers this dark mark fiber laser engraving ...
(Date:10/11/2017)... PARK, Calif. , Oct. 11, 2017  BioPharmX ... national scientific team that developed an innovative way to ... quantity of the delivery of new drugs. ... 2017 Fall Clinical Dermatology Conference will show how researchers ... General Hospital, Harvard Medical School used a suite of ...
(Date:10/11/2017)... , Oct. 11, 2017  True Health, ... has amplified its effort during National Breast Cancer ... hereditary cancer risks. ... Clinical Oncology calculated that more than 10 million ... inherited mutations in BRCA1 or BRCA2 and have not ...
Breaking Medicine Technology: