Natco Pharma Plans Nigeria Expansion with New Subsidiary.

The board of directors of Natco Pharma recently approved a scheme of arrangement to demerge its agrochemicals business into its wholly owned subsidiary, Natco Crop Health Sciences. Under the approved scheme, shareholders of Natco Pharma will receive shares in the resulting entity in a 1:1 ratio.

The Hyderabad-based drugmaker also cleared a proposal to expand its international footprint by incorporating a wholly owned subsidiary in Nigeria, to be named Natco Pharma Nigeria, with an investment of up to $1.

In addition, the board approved the liquidation of Natco Pharma Australia Pty, its wholly owned subsidiary in Australia, according to a regulatory filing with the BSE.