Dishman Pharma buys French co, shares rise

MUMBAI (Reuters) - Drugmaker Dishman Pharmaceuticals and Chemicals Ltd (DISH.NS) said on Tuesday it's Swiss unit has acquired a contract research and manufacturing firm from France-based Creapharm Group.

The acquired firm Creapharm Parenterals specialises in liquid, semi-solid and injectable aseptic dosages, the Indian company said in a statement to the Bombay Stock Exchange, without disclosing the deal value.

Creapharm Parenterals is seen generating sales of 130 million - 140 million rupees in the first year of operations, Dishman's Chief Financial Officer V.V.S. Murthy, told Reuters over the telephone.

"We have paid a negligible amount to buy this company. It will support our entry into the formulations segment," he said.

Ahmedabad-based Dishman Pharmaceuticals primarily makes active pharmaceutical ingredients and provides contract research and manufacturing services.

It's Swiss unit Carbogen Amcis AG was making losses almost for a year and affecting the company's profitability.

Dishman Pharmaceuticals reported a consolidated loss of 63.4 million rupees in July-September.

"It's past now and the Swiss unit has broke-even in the last quarter... it has already generated some profit in the current quarter," he said.

The acquisition will add formulations, lyophilization services and sterile capabilities for drugs and clinical trials to Dishman's Swiss unit, the Indian firm said.

At 0423 GMT, shares of Dishman Pharmaceuticals were up 3 percent at 49 rupees, in a firm Mumbai market .BSESN.

(Reporting by Kaustubh Kulkarni in MUMBAI; Editing by Subhadip Sircar)