Malladi Drugs Acquires U.S. Pharma Firm

Chennai-based Malladi Drugs and Pharmaceuticals has acquired Pseudeophedrine maker Novus Fine Chemicals of U.S. for an undisclosed amount. The deal, which has been structured by DSP Merrill Lynch, will attract a private equity capital of Rs 100 crore from a consortium led by ICICI Venture, Sanders Morris Harris Group and IL&FS. This was disclosed by the Malladi official at a press briefing held on Tuesday.

Deccan Herald (http://www.deccanherald.com/deccanherald/may112005/business171212005510.asp)