Ranbaxy to buy 20 lakh equity shares of Zenotech

New Delhi, Aug 11: Pharmaceutical major Ranbaxy Laboratories Ltd will buy 20 lakh equity shares of Hyderabad-based generic biopharmaceuticals manufacturer, Zenotech Laboratories Ltd, of Rs 10 each at Rs 100.

Zenotech had called for an extra-ordinary general meeting (EGM) of the shareholders yesterday, which approved the preferential allotment, a statement issued said here today.

Zenotech's shares of Rs 10 each will be allotted at a price of Rs 100 (including premium) on a preferential basis, it added.

Zenotech, which is a specialty generic injectable company with biotechnology as its core, has its research and development facilities in India and the US.

Headquartered in India, Ranbaxy is ranked amongst the top ten generic companies worldwide. The Company has manufacturing operations in eight countries with a ground presence in 49 countries and its products are available in over 125 countries.

UNI