Indoco Remedies has acquired 85 per cent of 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, based in Florida and engaged in marketing and distribution of generic pharma products in the US. The strategic investment by Indoco marks a significant milestone, solidifying its position as a key player in the US market, said a company statement.
“This development will facilitate 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.