SeQuent Scientific and Viyash Lifesciences sign merger deal

New Delhi, Sep 27 (PTI) SeQuent Scientific and Viyash Lifesciences on Friday announced a merger deal eyeing leadership in the animal health market globally.

With Viyash's operating capabilities, the merger will significantly enhance the combined entity's scale, deepen its research & development (R&D) capabilities, strengthen its supply chain, and position the combined entity to become a leading player in the high-growth pharmaceutical markets, the companies said in a joint statement.

The combined entity will have a more robust financial profile, R&D talent pool and more USFDA approved manufacturing facilities, which will form a strong operating backbone to serve its customers better, they said.

"We believe that in order to continue to deliver differentiated value to our customers in times to come, it is imperative to scale up our product development and R&D capabilities to capture the market opportunity we are seeing and to build on our leadership in the animal health market," SeQuent MD and CEO Rajaram Narayanan said.

The proposed merger is subject to receipt of customary statutory and regulatory approvals, including from shareholders, stock exchanges, Competition Commission of India and the National Company Law Tribunal.

Upon the scheme becoming effective, all shareholders of Viyash will be issued shares of SeQuent at the ratio of 56 shares of SeQuent for every 100 shares of Viyash, based on the swap ratio.

The new shares of SeQuent so issued will be traded on the NSE and BSE.

"This merger brings together two complementary businesses that share a commitment to innovation, operational excellence, and delivering world-class solutions for our customers," Viyash Chairman and CEO Haribabu Bodepudi said. PTI MSS HVA