Subsidiary of Bliss GVS acquires majority stake in Eco-rich Cosmetic

Leading manufacturer of pharmaceutical products, Bliss GVS Pharma Limited (BGPL) has acquired 60 per cent stake in Mumbai-based Eco-rich Cosmetic India Private Limited through its subsidiary Kremoint Pharma Private Limited.

Recently, the company successfully conducted divestment of the its Kenya-based step-down subsidiaries' Managed Healthcare Services business to Mayfair Healthcare Holdings. The company received US$ 12 million for the sale of 51 per cent shares of Bliss GVS Healthcare Limited, Kenya.

Eco-rich Cosmetic is engaged in the manufacture of cosmetics including herbal-based skincare, hair care, toiletries, baby care, dental care. The company also manufactures custom-made OTC-pharma products for brand owners.

Bliss GVS Pharma is a pharmaceutical formulation manufacturer and marketer focusing on Sub-Saharan African market. The company is a market leader in the anti-fungal, anti-malarial and anti-inflammatory segment. The company is international leader in suppositories and pessaries dose forms.

Meanwhile, the stock of Bliss GVS Pharma was trading at Rs. 200.00 per share, down by 1.43 per cent at 14:46 hours on Friday, when the benchmark index BSE Sensex was at 34,380.44, down by 46.85 or 0.14 per cent.