Ipca Labs arm acquires 80 percent stake in Bayshore Pharma

Ipca Labs’ subsidiary Ipca Pharmaceuticals has acquired 80 percent share capital of New Jersey-headquartered generic drug major, Bayshore Pharmaceuticals Llc for USD 10.286 million. Bayshore had reported a total income of USD 7.05 million and earnings before interest, depreciation tax and amortization (EBIDTA) of USD 0.56 million, for the year ended December 31, 2017. The acquisition of a majority stake in Bayshore will allow the company to commercialize its registered generic drug products in the US market.