Vector Legal advised Ahmedabad-based FTF Pharma, which researches and develops products for the pharmaceutical and generic drug industries, on its sale to Shilpa Medicare.
Vertices Partners advised Shilpa, which is a Mumbai-listed active pharmaceutical ingredients and formulations developer.
The US$9.8 million acquisition was announced on 16 June. According to stock exchange filings, the deal is subject to “some conditions” and is to close by 30 April 2023.
Anshuman Mohapatra, a partner at Vector Legal who worked on the deal along with associate Arushi Bindal, told India Business Law Journal that the timeframe for closing the deal was because the “entire acquisition will happen in tranches”. Ahmedabad-based Vector Legal is an affiliate of IP rights specialist firm YJ Trivedi & Co.