Drug maker Arch Pharmalabs has acquired Watsol Organics, a manufacturer of pharmaceuticals and agro-chemical intermediates, for Rs 30 crore.The acquisition was funded through internal accruals, Arch said in a statement.
"Inorganic growth is a strong component of our growth strategy. Strategic fit and value proposition have always been the drivers for acquisitions," Arch Pharmalabs CMD Ajit Kamath said.
The acquisition would give Arch Pharmalabs raw materials and intermediates to manufacture Isoxazole side chains.This is the fifth acquisition of Arch Pharmalabs. The company expects its sales to touch Rs 500 crore in FY 2010.
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