Mires puts total fair valuation of Dr Datsons at $60M

European pharma player Mires B.V has completed its valuation exercise as part of its interest to acquire majority stake in Mumbai-based drugmaker Dr Datsons Labs Ltd, the company announced in a stock exchange disclosure.

Dr Datsons said Mires completed the valuation of the two plants of the company situated at Mahad and Pune. The total fair valuation of the company stood at Rs 350 crore of which valuation of its fixed assets stood at Rs 270 crore.

It added that the detailed term sheet for the acquisition will be received by the company shortly.

Last month the firm had disclosed that Mires has proposed to buy majority stake in the firm.

The parentage and more details on Mires could not be sourced immediately.

Dr Datsons Labs has been negotiating with various pharma companies and other strategic investors for a potential stake sale, the company had earlier said.

It manufactures active pharmaceutical ingredients (APIs) and finished dosage forms. It also provides contract research and manufacturing services and has a strong presence in the anti-malarial API segment.

For the year ended March 31, 2013, it reported revenues of Rs 520.75 crore with net profit of Rs 0.42 crore. In the quarter ended December 31, 2013 it posted revenues of Rs 150.57 crore with net profit of Rs 1.86 crore.

The company has a market cap of Rs 62.36 crore.

(Edited by Joby Puthuparampil Johnson)

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