Shardul Amarchand Mangaldas advises Biological E. Limited to acquire shareholding of Akorn India Private Limited
August 24, 2020
Shardul Amarchand Mangaldas & Co (SAM & Co) advised its long standing client, Biological E. Limited (“BE”), in relation to its purchase of 100% shareholding of Akorn India Private Limited from Akorn Inc. and its affiliate. The transaction closed in August 2020. BE is a Hyderabad based pharmaceutical company that, inter alia, specializes in vaccines and biologics.
Akorn India has a sterile injectable plant located in Paonta Sahib, Himachal Pradesh. BE (which manufactures specialty generic injectable medicines along with vaccines), with this strategic acquisition, aims to enhance its manufacturing capacities to produce and supply vaccines and injectable medicines.
SAM & Co. advised and assisted Biological E. Limited on all legal aspects of the transaction including: (i) conducting due diligence on the company; (ii) drafting, reviewing and negotiating all the transaction documents; and (iii) assisting with pre-closing and closing actions.
The transaction team was led by Puja Sondhi, Partner; Sumeet Singh, Partner; Karuna Thapa, Principal Associate; Roma Das, Senior Associate and Sadhika Gulati, Associate. The due diligence team was led by Sumeet Singh, Partner; Karuna Thapa, Principal Associate; Prateek Batra, Senior Associate; Rachel Noronha, Associate; Meghna De, Associate; and Sadhika Gulati, Associate. The Tax team was led by Amit Singhania, Partner, Gouri Puri, Partner, Rahul Yadav, Principal Associate.
Torreya Partners advised Biological E. Limited on financial aspects. The sellers were advised by Khaitan & Co. (legal advisors) and PWC (financial advisors).
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