Indoco Remedies to acquire 85% stake in Florida Pharmaceutical Products

In a strategic move to strengthen its presence in the United States pharmaceutical market, Indoco Remedies, an Indian pharma company, has agreed to acquire an 85% equity stake in the US-based FPP Holding Company.

The acquisition, valued at $4 million, is being made from Contract Pharmacal Corp.

FPP Holding Company serves as the holding company for Florida Pharmaceutical Products, a Florida-based company specializing in the marketing and distribution of generic pharmaceutical products in the USA. With a turnover of $4.7 million as of 31 December 2022, FPP Holding Company has established itself as a key player in the industry.

The strategic investment by Indoco Remedies not only solidifies its position as a major player in the US market but also opens doors to synergistic opportunities. Indoco Remedies highlighted that FPP Holding Company operates in the same industry and will complement its manufacturing capabilities.

The acquisition allows Indoco Remedies to tap into FPP’s well-established distribution network, granting the company a wider reach and greater accessibility to a vast customer base in the US.

The completion of the acquisition is contingent upon meeting the applicable conditions precedent as mutually agreed between the parties, including obtaining the necessary regulatory approvals.

With this strategic move, Indoco Remedies is poised to solidify its position as a key player in the US pharmaceutical market, paving the way for future growth and success in the industry.

Aditi Panandikar — Indoco Remedies Managing Director said: “This development will facilitate exchange of knowledge and best practices, further enhancing the overall competitiveness and growth potential of both organizations. Leveraging FPP’s well-established distribution network, Indoco will have a greater reach and accessibility to a wider US customer base.”