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MUMBAI: The Ahmedabad-based Dishman Pharmaceuticals and Chemicals Ltd has informed the stock exchanges that it has acquired an UK-based contract research company called Synprotec Ltd, through its subsidiary company, Dishman Europe Ltd.

The assets base of Synprotec is around £2 million and Dishman has negotiated the cost of acquisition even below this price, the company said.

Synprotec has contract R&D and manufacturing capabilities in the UK.

It has a healthy order book covering contract research assignments of several molecules for various MNCs.

The Synprotec acquisition is a major step for Dishman.

Synprotec has a track record of more than 20 years of customer relationships with pharma and chemical multinationals through its strong market presence in Europe and the US.

Dishman will retain all key technical personnel including the services of Dr Peter Nightingale, the founder promoter of Synprotec, who will now form part of the global technical board of the Dishman group.

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