Pfizer arm acquires Bharti Healthcare
Pfizer's division, Capsugel, on December 20 acquired Bharti Healthcare for Rs 88 crore. This is being seen as an attempt by the Bharti group to streamline its activities and focus only on its core competencies. Capsugel, which has 10 global manufacturing facilities for gelatin capsules, capsule filling and sealing equipment, has acquired 92.76 per cent stake from the promoters at Rs 71 per share.
As a necessary requirement for delisting, it would continue to buy the shares from other shareholders at Rs 83 per share for 6 months w.e.f. 11th October, 2005. Bharti Healthcare, which is India's leading manufacturer of empty hard gelatin capsule, would now have the benefit of world class manufacturing and quality standards. A Pfizer stated said that while considering opportunities to enter the Indian market, it had selected Bharti Healthcare Ltd based on its strong results and reputation built-up by the leadership of Bharti.