Public listed drug manufacturer Bliss GVS Pharma Ltd has acquired 70 per cent stake in privately held Kremoint Pharma Pvt Ltd for an undisclosed amount, as per a stock market disclosure. With this acquisition, the company will expand its strength in the manufacturing and export of pharmaceuticals.
Founded in 1992 by K. K. Thakkar and his two sons, Kremoint Pharma is a manufacturer and exporter of pharmaceutical formulations in ointments and creams forms. Its products profile includes formulations for burns, antiseptic, analgesic, antibactrial, antifungal, acne pimples, corticosteroid etc.
The company has its own manufacturing facility for ointments, creams, gel formulation at Anandnagar in Maharashtra.
Mumbai-based Bliss GVS Pharma is engaged in manufacturing of female contraceptives, soft pessaries and suppositories. The firm also manufactures calcium preparation, protein powders, iron preparation, antibiotics, analgesic & antipyretics, respiratory, anti-inflammatory, dermatological preparations and anti-diarrhoeal products. It has a manufacturing plant at Palghar near Mumbai. For the year ended March 31, 2012 it clocked revenues of Rs 266 crore with net profit of Rs 52.5 crore.
(Edited by Prem Udayabhanu)