Our News Bureau – Mumbai
Shasun Pharmaceuticals announced that the extraordinary general meeting of shareholders has approved the preferential allotment to Caduceus Mauritius Asia Ltd (CAML), a wholly-owned subsidiary of OrbiMed Asia Partners. The company will allot 65,78,947 equity shares at Rs 76 per share, aggregating to Rs 50 crore.
Commenting on this investment, Abhaya Kumar, Managing Director, Shasun said, “We are happy to inform that our shareholders meeting of today, has approved the equity investment offer of CAML, for an aggregate amount of approximately Rs 50 crore. This investment reflects the confidence of a global healthcare fund in the fundamentals of Shasun and its prospects. We welcome CAML as an important member of our family of shareholders and we are confident that their global expertise of over two decades, in the health care sector will benefit Shasun over the long term.
Dr Sunny Sharma, Managing Director, OrbiMed Advisors India added, “Shasun has a long history of partnering with top pharma companies, and achieving leadership position in the products it chooses to focus on. We are impressed with the company’s commitment towards quality and innovation, and look forward to working with Abhaya and his team towards the continued growth and success of Shasun.