Trivandrum: The pharma business of Thiruvananthapuram based HLL Lifecare Limited (HLL), a Mini Ratna public sector enterprise of Ministry of Health & Family Welfare, will get a major fillip with the company acquiring 74 per cent equity stake in pharma company, Goa Antibiotics and Pharmaceuticals Ltd (GAPL).
The Goa cabinet, presided by Chief Minister Manohar Parrikar, has approved a proposal to disinvest 74 per cent equity stake of the State-owned EDC Limited in GAPL in favour of HLL. Under the agreement, HLL propose to expand this facility for diversifying its pharma portfolio. Further, HLL would be retaining all the existing 205 employees of GAPL.
“The acquisition of majority stake in GAPL shows HLL’s intent and seriousness to expand its footprints in the country’s booming pharma sector in a substantial manner,” said Dr. M Ayyappan, CMD of HLL.
“We are enhancing the pharma manufacturing capabilities to cater to the market potential. HLL wishes to strengthen its pharma segment through similar acquisitions. It is also in tune with our diversification plans across the health segment, including project management consultancy, manufacture of vaccines, establishment of diagnostic centers and generic medicine outlets,” he said.
HLL has already made its presence felt in the pharma industry by offering a basket of women’s healthcare products. It has a strong distribution network, reaching out to over 30,000 medical professionals and over 3,500 hospitals in the country.
A major manufacturer of contraceptives and healthcare products, HLL apart from their consumer products division has a well-established Hospital Products Division, which offers a wide range of critical hospital products in the field of transfusion services, wound care services and advanced patient care. The product range includes blood collection bags, surgical sutures, surgical and examination gloves and blood banking equipment.
The company runs generic drugs retail outlets in various parts of the country. Through its retail medicine networks in AIIMS New Delhi and Haryana HLL provides 147 generic medicines. HLL also has pharma production facilities in Belgaum and Indore.
Hindlabs and Life Care Centres (LCC), the two major brands of HLL, provide diagnostic services and retails pharma products, surgical implants to partner institutions under the PPP model, respectively.
Kerala Biz News