Mumbai: Pharma firm, Unichem Laboratories has recently announced that the company has entered into an agreement to acquire a 20 per cent equity stake in the active pharmaceutical ingredient(API) and intermediate business of Hyderabad based Optimus group.

The acquisition value is Rs 120 crore, a company statement said.

The transaction will give Unique accesses to Optimus USFDA approved API manufacturer facility and at the same time, Optimus will gain from the extensive knowledge base and industry best practices of Unichem, making the deal a win-win for both Unichem and Optimus, the release said.

Unichem engaged in speciality pharmaceutical business manufactures and markets a large basket of generic pharmaceutical formulations in several regulated markets across the world. The company has deep expertise in research, product development, process chemistry and manufacturing of complex API as well as dosage forms.

The Optimus group operates as a manufacturer of formulations, API and intermediates for Indian and other regulated/RoW markets. Presently, the group's API vertical has its manufacturing facilities located in Hyderabad and Vishakhapatnam, having specialisation in novel/polymorph chemistry and processes Engineering.

The group's API facilities have obtained a wide range of certifications and approvals.