Pharmaids Pharmaceuticals Limited has completed the divestment of its step-down subsidiary Siri Labvivo Diet Private Limited on March 27, 2026. The transaction was executed through the company's material subsidiary Adita Bio Sys Private Limited, which sold its shareholding in Siri Labvivo Diet Private Limited to an independent buyer.

Transaction Details

The sale agreement was finalized and completed on March 27, 2026, with the following key parameters:

Financial Impact and Contribution

Siri Labvivo Diet Private Limited's contribution to Pharmaids Pharmaceuticals' consolidated financials as on March 31, 2025, was relatively modest:

The subsidiary showed a negative networth position, indicating financial challenges that may have influenced the divestment decision.

Regulatory Compliance

The transaction has been disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Key compliance aspects include:

• The transaction does not fall under related party transaction category
• The buyer Mr. Shivakumar B G is not associated with the promoter or promoter group
• The sale is not part of any Scheme of Arrangement
• No slump sale provisions are applicable

Corporate Structure Impact

Following the completion of this divestment, Siri Labvivo Diet Private Limited has ceased to be a subsidiary of Adita Bio Sys Private Limited with effect from March 27, 2026. Consequently, it is no longer a step-down subsidiary of Pharmaids Pharmaceuticals Limited, simplifying the corporate structure and reducing the subsidiary network.

The transaction represents a strategic move by Pharmaids Pharmaceuticals to streamline its subsidiary portfolio, particularly given the negative networth contribution of the divested entity. The company has fulfilled all regulatory disclosure requirements and confirmed the arm's length nature of the transaction with an independent buyer.

Pharmaids Pharmaceuticals Limited has announced a significant development for its material subsidiary, with Adita Bio Sys Private Limited receiving prestigious accreditation from the American Association for Laboratory Accreditation (A2LA). This accreditation marks an important milestone in the company's medical device testing capabilities and regulatory compliance.

Accreditation Details

The A2LA accreditation covers testing of medical devices in the biological field and is based on multiple stringent standards and requirements:

Regulatory Standards and Compliance

The accreditation demonstrates Adita Bio Sys Private Limited's compliance with International Standard ISO/IEC 17025:2017, which establishes general requirements for the competence of testing and calibration laboratories. Additionally, the subsidiary meets the requirements of A2LA R256 – Specific Program Requirements, ensuring adherence to specialized testing protocols.

The accreditation also encompasses compliance with U.S. FDA Good Laboratory Practice regulations per 21 CFR Part 58, which are critical for medical device testing and regulatory approval processes in the United States market.

Corporate Communication

Pharmaids Pharmaceuticals Limited formally communicated this development to BSE Limited through its Corporate Relation Department, fulfilling disclosure requirements under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Prasanna Subramanya Bhat, Company Secretary & Compliance Officer, ensuring proper corporate governance protocols.

Strategic Significance

This A2LA accreditation positions Adita Bio Sys Private Limited as a qualified testing facility for medical devices, potentially expanding the subsidiary's service offerings and market reach. The accreditation validates the laboratory's technical competence and quality management systems, which are essential for serving clients in the medical device industry and maintaining regulatory compliance across international markets.