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Indoco Remedies acquires 8% stake in FPP Holding Company
IMT News Desk
Indoco Remedies acquires 8% stake in FPP Holding Company
IMT News Desk
FPP Holding is the holding company of Florida Pharmaceutical Products
Indoco Remedies, a fully integrated, research-based pharma company with a strong global presence has acquired an 85 per cent equity stake of the US-based FPP Holding Company for $4 million from contract Pharmacal Corp.
FPP Holding is the holding company of Florida Pharmaceutical Products which is based in Florida and engaged in the marketing and distribution of generic pharmaceutical products in the US.
The strategic investment by Indoco marks a significant milestone, solidifying its position as a key player in the US market.
"This development will facilitate the exchange of knowledge and best practices, further enhancing the overall competitiveness and growth potential of both organisations.
Leveraging FPP's well-established distribution network, Indoco will have a greater reach and accessibility to a wider US customer base", said Aditi Panandikar, MD, Indoco Remedies.