Advanced Enzyme buys majority stake in JC Biotech
Advanced Enzyme Technologies Ltd, Manufacturers of enzymes used in pharmaceuticals and other industries, has announced that it has acquired a 70 per cent stake in bulk drugs maker JC Biotech Pvt Ltd for Rs 50.08 crore.
The deal is aimed at helping Advanced Enzyme increase its market share in its offerings to the Indian pharmaceuticals sector, the company said in a filing to the stock exchanges.
Andhra Pradesh-based JC Biotech has the technology for manufacturing algal DHA, an Omega 3 fatty acid which finds application in human nutrition. The deal may see the company expand its fermentation capacity.
JC Biotech has more than 50 per cent market share in the production of API enzyme serratiopeptidase, Advanced Enzyme said in a statement.
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