Bilcare and US-based Meadwestvaco Corp have acquired a pharmaceutical company International Labs, Florida.

The amount of deal and terms and conditions of deal are not disclosed by the companies.

International Labs said that the deal will boost up the packaging business across the globe. It is known for contract packaging for retail pharmacies and large drug manufacturers.

The net profit of Dr. Reddy’s Laboratories fell down by 26 per cent in Q1 of the exiting fiscal. This fall is noticed due to increase in selling and general and administrative expenses suffered by company for the period of Q1.

Pune-based Bilcare along with US-based Meadwestvaco Corporation have jointly acquired International Labs, a Florida-based pharmaceutical packaging company, for an undisclosed amount.  

Celestial Labs, leading developer of biopharmaceuticals and industrial enzymes, has acquired the channel partnership of Microsoft to strengthen its ERP business.

The tender offer, which was put forward by Sun Pharmaceutical Industries

Karvy Stock Broking Limited has maintained ‘Buy’ rating on Ranbaxy Laboratories stock with an intraday target of Rs 430.