Wander, Pearl Organics merge to form Wanbury
EPP News Bureau – Mumbai
Pearl Organics announced that it has received approval from the Mumbai High Court to proceed with its proposed scheme of amalgamation of Wander Pvt Limited with Pearl Organics Limited. The merger between the two companies will lead to the formation of a consolidated entity, Wanbury Limited.
According to a release issued by the company, Wanbury Limited will benefit from becoming an integrated pharmaceutical company offering bulk drugs and formulations under one roof. It will gain from the operational, technical and marketing synergies resulting from the merger of the two companies.
‘‘The approval for the merger puts us in a position to exploit the natural synergies that arise from merging two businesses which complement each other. Wander markets one of the world’s leading brands in Triaminic while Pearl is the world’s second largest producer of Metformin with an export presence in over 40 countries. The integration of the bulk drug activities with the formulations business will see the company going from strength to strength in an international market which is full of tremendous possibilities,’’ said K Chandran, director, Pearl Organics in the release.