Ridgeback well connected in US pharma: Granules India

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Ridgeback well connected in US pharma: Granules India

The Granules board has approved allotment of 14.9 percent stake to Ridgeback Capital Investment.Krishna Prasad, Managing Director of Granules India says that Ridgeback is a very well connected company in the US pharma industry and they could add lot of value to Granules India .

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The Granules board has approved allotment of 14.9% stake to Ridgeback Capital Investment.

Krishna Prasad, Managing Director of Granules India  says that Ridgeback is a very well connected company in the US pharma industry and they could add lot of value to Granules India .

Excerpts from CNBC-TV18's exclusive interview with Krishna Prasad:

Q: We understand that this could translate to about Rs 20-25 crore in terms of deal size. Could you tell us what this money essentially will be used for?

A: We had announced plans for raising USD 20 million in FCCB and this is a part of that which goes towards meeting cost of our Chinese acquisition and expansion into finished dosages. We are trying different means of raising and Ridgeback is a very well connected company in the pharma industry in United States and we felt that they could add a lot of value to Granules India and so we took private equities on them.

Q: Would you like to comment on media reports that you might be eyeing Ranbaxy's Ireland facility?

A: We have been looking at that in addition to various other options.

Q: What is the likelihood of that happening? Have you finished due diligence on that front?

A: No yet, still some distance away.

Q: Are you just looking at one facility in Ireland or you are talking about more acquisitions being on the annual - which geography will you be essentially focusing on for these acquisitions?

A: It is essentially going to be in Europe, US, within India and China. These are the four geographies we think we will be concentrating on. Whichever comes our way first I think we will be going into these.

Q: When does manufacturing start from this joint venture with the Chinese company?

A: The Chinese company is an ongoing company and it is running already and the JV announcement formation will be over by the first week of April.