Drugmaker Natco Pharma is planning to acquire U.S. firm Dash Pharmaceuticals LLC, for a cash consideration of $18 million, through one of its subsidiaries.
The acquisition, which is likely to be completed by January, will provide a front-end to engage with its customers directly in the U.S., the largest pharmaceutical market in the world, Natco Pharma said on Tuesday.
In a filing with the stock exchange, following a meeting of the Board, Natco said it proposed to enter into an agreement to acquire 100% stake in Dash Pharmaceuticals. The transaction will be subject to satisfactory completion of due diligence, execution of definitive agreements and compliance with statutory requirements.
Dash, based in New Jersey, is a pharmaceutical sales, marketing and distribution entity. In 2020, it had $11.13 million in net revenue and is expected to clock net sales of about $15 million in 2021.
