Medicamen Biotech on Monday entered into an agreement for acquisition of the entire equity share capital of OPAL Pharmaceuticals Pty Ltd (a company incorporated in Australia), from its existing shareholders for a consideration aggregating to A$420,000.
Subsequently, on Tuesday, it entered into an agreement to sell 25 per cent equity share capital of OPAL held by the company to Baxyran Healthcare Private Limited for ₹51.53 lakh. Post the transfer, OPAL would cease to be the company’s wholly-owned subsidiary, it said in a notice to the exchanges.
Shares of BSE-listed Medicamen closed 1.17 per cent lower at ₹358.60.