Sterling Biotech Limited, one of the world’s largest manufacturers of Pharmaceutical Gelatin, has signed a Memorandum of Understanding (MoU) to purchase the manufacturing facility of Torrent Gujarat Biotech Ltd as an asset sale for Rs 55 crore in all cash deal. The plant of Torrent Gujarat Biotech Ltd is located at Masar, Dist. Baroda, Gujarat. The transaction is subject to both the parties receiving necessary approvals / consents under applicable laws, according to a company release. Sterling Biotech Limited will use the facility to manufacture specialized gelatins derivatives such as Fish Gelatin, Hydrolyzed Gelatin and fermentation-based nutraceuticals such as Co-Enzyme Q 10. These gelatin derivatives and nutraceuticals have been developed by Sterling for its existing customers in western world, which are large Pharmaceutical and Nutraceuticals companies including Fortune 500 Companies, added the release.
