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Friday, May 27, 2005

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Alchemist acquires majority stake in Valiant Healthcare

Our Bureau

New Delhi , May 26

ALCHEMIST Ltd, formerly Toubro Infotech and Industries Ltd, has bought 60 per cent stake in Valiant Healthcare Ltd (VHL) for a consideration of Rs 4.5 crore as part of its growth strategy to focus on its healthcare and agri businesses.

VHL operates in the sector of branded formulations and currently has 41 branded products being marketed throughout India. It achieved a turnover of Rs 20 crore in 2003-04.

Alchemist proposes to change the company's name to Alchemist Lifesciences Ltd , which becomes a subsidiary of Alchemist Ltd.

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