Hikal plans to take over its own pharma co

Mumbai-based chemicals contract researcher and API maker Hikal Ltd has announced that its board will meet next Wednesday to consider a proposal for merger of Hikal Pharmaceuticals Ltd, a wholly- owned subsidiary, with the parent company.

The company provides a broad spectrum of research & development and custom manufacturing solutions to the pharmaceuticals, biotechnology, agrochemicals and specialty chemicals industries.

Shares of Hikal spurted on receipt of the information.