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Chennai-based Orchid Chemicals & Pharmaceuticals has increased stake in US-based Bexel Pharmaceuticals to 100 per cent. Earlier they held 74 per cent. The deal involves buying out the entire shareholding of the US founders of Bexel Pharmaceuticals for a cash consideration of $3 million.

Bexel focuses on drug discovery research in metabolic diseases (such as diabetes, obesity and auto-immune diseases), while Orchid has been focusing on inflammation, cancer and anti-infective areas.

Go to article in Business Standard.