Philab board approves Sydenham Lab

PHILAB Holdings Corp. disclosed that its board has approved the acquisition of 67 percent equity in local pharmaceutical firm Sydenham Laboratories Inc. (SLI).

Philab is anticipated to own and hold a total of 1.25 million shares of SLI valued at P390.6 million.

Philab’s board has approved the acquisition of 625,000 secondary common shares at P46.62 per share, which represents 33.33 percent of the resulting outstanding capital stock of SLI shareholders.

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