Surya Pharmaceutical acquires ActivOn

Surya Pharmaceutical has acquired ActivOn, a leading OTC analgesic drug brand in the USA, with global marketing rights. The brand comes with the acquisition of Ameshire Investment Corp, USA through its 100% subsidiary based out of Singapore. The company has funded the investment of US$ 22 million through a mix of internal accrual and debt financing from EXIM Bank.

ActivOn is a leading OTC analgesic brand in the topical analgesic category in the US market, It is used to provide relief of joint and muscle pain associated with arthritis, backache, strains, bruises and sprains. Through the acquisition, the company also adds to its portfolio brands namely, Preferon, Firston and Renewin. The company would also have the global marketing rights for Headon another leading brand, except USA.

Surya Pharma closes GDR issue worth USD 25 mn

Surya Pharmaceutical announced that its board of directors at its meeting held on Oct. 12, 2010 closed the subscription list for issue of GDR of USD 25 million.

The stock had underperformed the market over the past one month till Oct. 12, 2010, falling 6.21% compared with the Sensex`s 7.47% rise. It outperformed the market in past one quarter, gaining 46.57% as against 12.63% rise in the Sensex.

Total volume of shares traded on the bourses today was lower by 93.75% to 15,896 compared with 22-day average volume of 254,173. Recently the company announced rise of 74.63% in standalone net profit on y-o-y basis to Rs 233.46 million, while total income rose 73.17% y-o-y basis to Rs 3.60 billion for the quarter ended June 2010.

On August 16, 2010, the board of directors approved final dividend of 15% or Rs 1.5 a share. The company has an equity capital of Rs 14.47 million. Face value of share is at Rs 10. The company has market capitalization of Rs 3.91 billion as on Oct. 12, 2010.

Shares of Surya Pharmaceutical gained Rs 3.65, or 1.35%, to trade at Rs 274.15. The total volume of shares traded was 5,768 at the BSE (9.53 a.m., Wednesday).

Surya Pharmaceutical to raise $25 million through GDRs

Surya Pharmaceutical Ltd has announced that the Board of Directors of the Company at its meeting held on October 07, 2010, has decided to issue GDR for USD 25 million and the subscription list for the same has been opened.

The subscription list is expected to remain open till October 12, 2010.

A meeting of the Board of directors has been convened to be held on October 12, 2010, to decide on the date of closure of the subscription list.

The stock was trading at Rs.273.80, up by Rs.2.80 or 1.03%. The stock hit an intraday high of Rs.281.20 and low of Rs.267.30.

The total traded quantity was 0.84 lakhs compared to 2 week average of 1.05 lakhs.

Surya Pharmaceutical Board to consider Final Dividend for 2009-10

Surya Pharmaceutical Ltd has announced that a meeting of the Board of Directors of the Company will be held on August 14, 2010, inter alia, to consider and take on record the un-audited Financial Results (Provisional) of the Company for the quarter ended June 30, 2010.

The Board will consider and recommend final dividend, if any, for the Financial Year 2009-10.

The Board will consider and approve Audited Financial Results i.e. Balance Sheet, Profit & Loss Account, Schedules and Notes thereon for the year ended March 31, 2010 of the Company, its subsidiary and consolidated financial statements.

The Board will also consider and approve Book Closure of Register of Members and Share Transfer Books of the Company for the purpose of Dividend, if any and Annual General Meeting.

The stock was trading at Rs.184.90, up by Rs.0.45 or 0.24%. The stock hit an intraday high of Rs.185.75 and low of Rs.183.70.

The total traded quantity was 7153 compared to 2 week average of 19252.