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The board of directors approved the acquisition of the branded generic business of Industrial Farmaceutica Cantabria for 50 million Euro, the company informed the Bombay Stock Exchange.
The company will also seek shareholders approval through postal ballot for making investments of upto Rs 400 crore (Rs 4 billion) for acquisitions or loans. The board also approved borrowing 34 million Euro to make an investment in Wanbury Holdings, wholly owned subsidiary of the company and in Cantabria Pharma, it added.