Natco Pharma, a local pharma company, announced on Tuesday that its board of directors had approved the acquisition of Dash Pharmaceuticals LLC, USA,
through a subsidiary company for $18 million in cash.
"This acquisition gives Natco a front-end to engage directly with its customers in the United States, which is the world's largest pharmaceutical market," the company said.
Dash Pharmaceuticals LLC is a pharmaceutical company based in the United States, with revenues of $11.13 million for the fiscal year ending December 31, 2020. For the fiscal year ending in December 2021, the company expects to generate approximately $15 million in net sales.
According to Natco, the acquisition is conditional on satisfactory completion of due diligence, execution of definitive agreements, and compliance with statutory requirements.