Torrent Pharmaceuticals has announced plans to raise fund through the private placement of securities including convertible / non-convertible debentures/bonds.
The company will issue the securities either as equity shares by means of a qualified institutional placement (QIP) or depository receipts or private placement or any other mode.
Torrent Pharmaceuticals is a pharmaceutical company based in India.
Medico Remedies Pvt Ltd (MRL) has completed an initial public offering (IPO) of 1,099,200 shares priced at Rs100 ($1.56) a share to raise gross proceeds of Rs109.9m ($1.72m).
Based in India, Medico Remedies is a pharmaceutical formulation developer.
The company plans to use the proceeds towards repayment of loans and for general corporate purposes.
Medico Remedies has appointed Aryaman Financial Services Limited as lead manager and Cameo Corporate Services Limited as registrar for the transaction.
Chinese pharmaceutical company Shanghai Pharmaceutical plans to raise HK$3.13bn ($400.33m) through the private placement of 153,180,000 shares priced at HK$20.43 ($2.61) a share.
The stake of the controlling shareholder, Shanghai Industrial Investment (Holdings), will reduce from 35.52% to 33.61% following the transaction.
Shanghai Pharmaceutical has appointed Morgan Stanley & Co. International, Haitong International Securities Company and China Merchants Securities as placement agents for the offering.
Chinese pharmaceutical company Chongqing Taiji Industry (Group) has completed the private placement of 23,437,500 shares priced at CNY15.36 ($2.39) a share to raise CNY360m ($56.21m).
German pharmaceutical company Grunenthal has signed an agreement with Merck & Co Inc (MSD) for the distribution, promotion and commercialisation of the latter’s women’s health products in Brazil, Central America, Colombia, Mexico and Peru.
Grunenthal will distribute and market MSD’s Zoely, Nuvaring, Cerazette and Livial products in Latin America, as part of the agreement.
Strongbridge Biopharma plans to issue five million shares in a public offering.
The US-based biopharmaceutical company also plans to grant the underwriters a 30-day option to buy an additional 750,000 ordinary shares.
The company plans to use the proceeds towards the development of its Keveyis product, and for working capital and other capital expenditures.