Strides Arcolab Ltd on Monday said it has acquired Grandix Pharmaceuticals Ltd and its subsidiary Grandix Laboratories Ltd on a cash and debt free basis at Rs 100 crore.
Grandix, which focuses mainly on the South India, posted sales of Rs 48.50 crore and earnings before interest, depreciation, tax and amortisation of Rs 10.89 crore. The company's sales in 2007 is expected to grow at over 30%, a notice on the Bombay Stock Exchange said.
At 11:15 am, Strides Arcolab share was at Rs 338 on BSE, up Rs 8.45 or 2.56% from Friday's close. Volume traded so far was 28,389 shares. It touched a high of Rs 342.50 and low of Rs 335 in trade so far.
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