Aarey Drugs & Pharmaceuticals is eyeing to take over Forel Labs in equity swap, after the due diligence undertaken by the company and is considering the viability of the takeover. The board of directors of the company has considered the proposal received from Forel Labs, a company which has production facility at Visakhapatnam, Andhra Pradesh. The company has authorized Managing Director to appoint the agency for the due diligence of the project for both financial & technical.
Forel Labs is manufacturer of API products, which is complementary to Aarey Drugs products. Forel Labs is certified with ISO 9001:2008 & GMP and facilities are in-compliance with US-FDA & WHO norms. Aarey Drugs & Pharmaceuticals is in manufacturing of API products, & proposed to expand its product range.
Aarey Drugs & Pharmaceuticals is engaged in the manufacturing of drugs and intermediates such as metronidazole, metronidazole benzoate, methyl, and nitro imidazole. The company is based in Thane, India.