The Competition Commission of India approved a minority stake acquisition in Micro Life Sciences Pvt. Ltd, by South Elm Investments B.V., a Dutch investment holding company. The deal was valued at $210 million. The shareholders of South Elm Investments are private equity funds managed by Warburg Pincus LLC. Gujarat-based Micro...
Perfect Day Acquires India’s Sterling Biotech
Berkeley, California- headquartered food technology startup Perfect Day Inc., acquired Gujarat-based Sterling Biotech through the liquidation process, via an e-auction. Founded in 1985 the Indian company provides active pharmaceutical ingredients. It owns two manufacturing facilities - one in Gujarat and the other in Tamil Nadu. The facilities are outfitted for...
India to Boost its Indigenous Defense Industry
In a first, DefExpo 2022 was held exclusively for Indian companies, Indian subsidiaries of Foreign OEMs registered in India, and for exhibitors that had a Joint Venture with an Indian company.The event was inaugurated by India's Minister for Defense, Rajnath Singh on October 20 who said on the occasion, "DefExpo...
Vedanta and Foxconn Partner to Manufacture Chips in India
Mumbai-based mining company Vedanta Ltd., and Taiwan's Foxconn signed an agreement with the government of India's western state of Gujarat to set up a $20 billion semiconductor project. Foxconn already has significant operations in India, including the assembly of Apple iPhones. Vedanta obtained financial and non-financial subsidies including on capital...
India Approves DNA Vaccine for Covid-19
Gujarat India based Zydus Cadila's Covid-19 vaccine ZyCoV-D, meant for adults and children aged 12 years and above, was today approved for "restricted use in emergency situation" by the Central Drugs Standard Control Organization (CDSCO) which is India's regulator. The DNA vaccine, developed in partnership with India's Department of Biotechnology,...
Baxter Establishes R&D Center in Ahmedabad
American medical device and pharmaceutical company Baxter International headquartered in Deerfield, Illinois, will invest $18 million to set up its research and development facility in Ahmedabad, in India's western state of Gujarat. The company has purchased the space for this venture. Currently, Baxter has a research and development and information...