Profit

Torrent Pharma To Buy Unichem Labs India Business For Rs 3,600 Crore

The deal will be funded by internal accruals and bank borrowing, Torrent Pharma said.

 Share
EMAIL
PRINT
COMMENTS
Torrent Pharma To Buy Unichem Labs India Business For Rs 3,600 Crore

Deal includes the purchase of the brand Unienzyme, allowing Torrent to enter OTC drugs market.

Torrent Pharmaceuticals said on Friday that it would buy more than 120 brands from Unichem Laboratories in India and Nepal, and its manufacturing plant at Sikkim. The Rs 3,600 crore deal will be funded by internal accruals and bank borrowing, the Ahmedabad, Gujarat-based drugmaker said in a stock exchange filing. The acquisition is on a going concern basis and is expected to deliver cost and revenue synergies in Torrent's branded drugs business in India, the company added.

The transaction will strengthen Torrent's position in cardiology, diabetology, gastro-intestinals and central nervous systems therapies, Torrent chairman Samir Mehta said.

The deal includes the purchase of the brand Unienzyme, allowing Torrent to enter the over-the-counter drugs market, as well as brands including Losar, Ampoxin and Telsar.

Comments
Under the acquisition, which is expected to close by the end of 2017, more than 3,000 Unichem employees will join Torrent.
© Thomson Reuters 2017


(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top