Remedium Lifecare Ltd.(BSE: 539561), a company engaged in trading API intermediates (KSMs and CRMs) and various other raw materials essential to API trading, has announced that its board, Subject to the approval of the members of the Company, approved to increase the Authorized Share Capital of the Company from Rs. 42 Cr to Rs. 60 Cr, and consequent Alteration in Capital Clause of the Memorandum of Association of the Company
The company’s board will further meet on 08 August 2024 to consider the acquisition of an unlisted company in the specialty chemicals sector with a global footprint. The acquisition will be executed via a stock swap and the issuance of optionally convertible debentures, resulting in a 100% buyout. The acquisition value is expected to be around INR 1000 crores, subject to agreement on valuation parameters and the completion of due diligence on the target company’s financials and legal formalities.
Earlier, the company approved fund raising through Qualified Institutional Placement (QIP)to raise funds up toRs. 200 Cr to finance the acquisition of Good Manufacturing Practices (GMP) assets in the Active Pharmaceutical Ingredients (API) and Intermediates space, as well as the acquisition of technology, Intellectual Property (IP), including US Drug Master File (USDMF), Certificate of Suitability to the Monographs of the European Pharmacopoeia (CEP), tech packages, and other assets.
Recently, the company has received a multi-year supply contract from Aster Biotech Ltd., a pharmaceutical distribution company based in the United Kingdom. The supplies scheduled between July 2024 and June 2025 alone are valued at one hundred seventy-five crore rupees (Rs. 175,00,00,000/-).
Remedium Lifecare Ltd., a company engaged in trading API intermediates (KSMs and CRMs) and various other raw materials essential to API trading, has bolstered its performance and presence within the pharmaceutical and healthcare domains by trading amino isophthalic acid, tellurium oxide, grignard reagent, iodine, selenium metal powder, trimethyl sulfoxonium iodide (TMSI). As a leading contract trader and brand owner of advanced intermediates and APIs, Remedium has shifted its paradigm into the trading of intermediates and APIs.
Reflecting the ethos of its Chairman, who believes in “working hard in silence and
letting success make the noise,” Remedium is dedicated to upholding uncompromising quality standards. Remedium has consistently raised the industry’s benchmarks through its commitment to developing intermediates (KSMs & CRMs) and APIs that deliver unique value to patients and societies worldwide. Adapting swiftly to evolving demands, the company has emerged as one of the fastest-growing organizations in the global pharmaceutical industry.
“Quality is an ongoing process of building and sustaining relationships,” is the firm belief at Remedium. Its unwavering commitment to quality products is backed by a highly qualified team of professionals, a cutting-edge infrastructure, and deep industry knowledge.
Remedium strives to create mutually beneficial partnerships, adhering to high-quality standards as a matter of habit rather than chance. Remedium is passionate about excellence and strives to deliver products with 0% defects, earning trust as a reliable source for quality pharmaceutical and healthcare products. It is committed to a rigorous product development process that involves constant modernization and adherence to international standards, since it has one of the largest portfolios of intermediates and active pharmaceutical ingredients (APIs), responsible for the therapeutic effects of various medicines.