The company has plans to launch this Vaccine by the end of 2023 after completing the required field studies and obtaining regulatory approvals
The cash and debt free consideration value is €370 million.
Advent will also be making an open offer to acquire additional 26% of the outstanding equity shares of the company from the public shareholders.
The scheme is subject to statutory and regulatory approvals as may be necessary.
The newly built centre will work as the state-of-the-art facility for not just ethical animal studies but spans from basic, applied to regulatory animal research.
Post the sale, Patel family has become the single largest promoter shareholder in the company
The investment will enable the company to enter European markets as well as enhance margins in current markets
Desonide Cream, 0.05%, has an estimated market size of US $12 million for twelve months ending Sep 2022 according to IQVIA
As a result, Imago will become a subsidiary of Merck.
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