Mumbai-based Makers Labs may merge with Ipca Labs, it is learnt. A senior Ipca official indicated that merger between the two companies is in the offing and the companies would soon notify the decision to the Bombay Stock Exchange.
When contacted by Pharmabiz.com, the managing director of Ipca Labs Prashant Godha and Makers Labs company secretary Bhaskar Patel, neither confirmed nor denied the information.
Incidentally, Makers Labs is promoted by Prashant Godha's father P.C. Godha. Prashant Godha is wholetime director on board of Makers Labs.
Makers Labs achieved a net profit of Rs 34.4 lakh for the quarter ended December 2003 on net sales of Rs. 9.2 crore for the same period. The company has an equity capital base of Rs. 4.34 crore and debt of about Rs. 9.5 crore for the year ended March 2003.
Makers Labs is a manufacturer of tablets, capsules and syrups. Its key brands include Tidoxyl - CX (Amoxycillin and cloxacillin capsules), Myalgesic ( paracetamol diclofenac sodium chlorzoxasone tablets), and Ompec (Omeprazole capsules).
Ipca Labs is manufacturer of APIs,drug intermediates and a range of formulations of anti-malarials, analgesics, anti-diabetics, cough & cold products, neuro-psychiatry and dermatology products. For the year ended March 2003, Ipca achieved a net profit of Rs. 61 crore compared to Rs. 32 crore for the previous corresponding period. Its net income stood at Rs. 484.5 crore compared to Rs. 416.8 crore during the previous corresponding year.
The shares of IPCA is traded at around Rs. 730 at the Bombay Stock Exchange. Makers Labs shares were traded at around Rs. 24 on Friday on the BSE.