Indian Economy News

Sanofi-Synthelabo invests Rs90 crore in Apollo Sugar Clinics

  • Livemint" target="_blank">Livemint
  • February 2, 2015

Mumbai: Hospital chain Apollo Enterprises Ltd on Friday said Sanofi-Synthelabo (India) Ltd had invested Rs.90 crore in Apollo Sugar Clinics Ltd (ASCL), a unit of its subsidiary Apollo Health and Lifestyle Ltd.

ASCL is a disease management clinic focused on providing high quality, integrated care across its clinics for people with diabetes, Apollo Enterprises said in a BSE filing. The total number of diabetics in India is expected to rise from 65 million currently to 109 million by 2035.

ASCL provides integrated diabetes care solution via a combination of quality clinical infrastructure and protocol-driven treatment of diabetes and lifestyle management programs.

Through the investment, Apollo and Sanofi will look to expand services and geographic reach, the firm said in the filing.

“With the increasing burden in our society we need to act quickly and with a sense of purpose to arrest the disease from claiming more lives. I am confident that with this investment, Apollo Sugar Clinics is even positioned to offer patients advanced care and counselling for diabetes management,” said Prathap Reddy, chairman and founder of Apollo Hospitals Group.

Sanofi-Synthelabo is investing in ASCL in a combination of primary and secondary funding.

Sanofi-Synthelabo, an Indian unit of French pharma firm Sanofi SA, provides medicines for the treatment of patients in several therapeutic areas such as cardiology, thrombosis, oncology, diabetes, central nervous system, internal medicine and vaccines.

At 2.05pm, shares of Apollo Hospitals were trading at Rs.1,328.50, down by 2.07% on the BSE, while the benchmark Sensex was trading at 29,295.36 points, down by 1.30%.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.