NCLT approves amalgamation of Lincoln Parenteral & Lincoln Pharmaceuticals

Drug firm Lincoln Pharmaceuticals on Thursday said the National Company Law Tribunal, Ahmedabad Bench, has approved the scheme of amalgamation of Lincoln Parenteral Ltd and the company. Amalgamation of Lincoln Parenteral Ltd and Lincoln Pharmaceuticals Ltd is expected to bring lots of synergies in terms of operations efficiency, enhance competitive strength, cost-effectiveness and productivity for the combined entity, Lincoln Pharmaceuticals said in a filing to the BSE.
The scheme will be effective upon filing of certified copy of the order of the NCLT with the Registrar of Companies, Gujarat, it added.

"The corporate restructuring practice will bring lot of synergies for both the company and will lead to increased competitive strength, cost reduction and efficiencies, productivity gains, and logistic advantages, thereby significantly contributing to future growth," Lincoln Pharmaceuticals Ltd MD Mahendra Patel said.

Shares of Lincoln Pharmaceuticals closed at Rs 394.40 per scrip on the BSE, up 0.18 per cent from their previous close.