Shilpa Medicare Acquires Us Based Pilnova Pharma

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Shilpa Medicare acquires US based Pilnova Pharma

ri-calendar-2-lineNov 3, 2023

By: BlinkX Research Team

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On Thursday, November 2, pharmaceutical giant Shilpa Medicare announced that it had acquired American pharmaceutical company Pilnova Pharma Inc. 

 

Following the completion of the acquisition procedure, Pilnova will join Shilpa Medicare as a fully owned subsidiary.

 

Shilpa Medicare said in the regulatory filing that it has acquired a hundred percent of Pilnova Pharma for one dollar per share.

 

Pilnova Pharma, a US-registered pharma sector company, is involved in providing marketing and sales support. 

 

Shilpa Medicare said that the move is aimed at establishing a front end presence in the US market. The company has also informed that this entire deal has been done in cash.

 

Shares of Shilpa Medicare were down nearly 1% on Thursday.

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