just a little update
Wednesday, November 09, 2005 11:09 ET
Coastal Holdings, Inc. (CSJJ) announce that it has reopened negotiations to acquire an interest in an India-based pharmaceutical firm. Negotiations were at an impasse for the past couple of months due to lack of adequate communication between the firm and Coastal Holdings. However, in the past week, the firm has approached Coastal Holdings with the intent of re-opening negotiations. Coastal Holdings has decided to re-open acquisition negotiations due to the high growth potential of the firm and the fact that it would likely be a profitable addition to the Company's portfolio.
The firm is publicly traded and is currently listed on The Stock Exchange, Mumbai (BSE). The firm has experienced strong annual growth in its revenue and profit over the past couple of years, which is due in part to its focus on the rapidly expanding therapeutic segments of the industry such as diabetes. The firm is in the process of expanding its product portfolio and operations overseas in order to consolidate its position as one of the major India-based players in the global pharmaceutical indust
