Torrent Pharma to acquire India biz of Unichem for Rs 3,600 crore
Unichem's business under consideration comprises a portfolio of over 120 products, manufacturing plant at Sikkim catering to these two markets and all the employees engaged in it.
- Nov 3, 2017,
- Updated Nov 4, 2017 11:06 AM IST
In a major consolidation move in the domestic pharma sector, drug firm Torrent Pharmaceuticals today said it will acquire the branded business of Unichem Laboratories in India and Nepal for Rs 3,600 crore.
Unichem's business under consideration comprises a portfolio of over 120 products, manufacturing plant at Sikkim catering to these two markets and all the employees engaged in it, Torrent Pharmaceuticals said in a filing to the BSE.
"The transaction is on going concern basis by way of slump sale", it added.
The company had earlier in December 2013 announced its decision to acquire Elder Pharmaceuticals' branded domestic formulations business in India and Nepal for a consideration of around Rs 2,000 crore.
In the biggest such deal in the domestic drug sector, pharma major Sun Pharmaceutical Industry had announced in April 2014 that it would acquire troubled rival Ranbaxy in an all-stock transaction worth USD 4-billion that included USD 800 million debt.
Earlier today, Torrent Pharmaceuticals reported a 1.44 per cent dip in its consolidated net profit to Rs 204 crore for the second quarter ended September.
The company had posted a net profit of Rs 207 crore in the same period a year ago, Torrent Pharmaceuticals said in a BSE filing.
Consolidated revenue from operations stood at Rs 1,429 crore for the quarter under consideration as against Rs 1,429 crore for the corresponding period of the previous fiscal, it added.
Shares of Torrent Pharmaceuticals today closed 0.76 per cent lower at Rs 1,315.30 per scrip on BSE.
In a major consolidation move in the domestic pharma sector, drug firm Torrent Pharmaceuticals today said it will acquire the branded business of Unichem Laboratories in India and Nepal for Rs 3,600 crore.
Unichem's business under consideration comprises a portfolio of over 120 products, manufacturing plant at Sikkim catering to these two markets and all the employees engaged in it, Torrent Pharmaceuticals said in a filing to the BSE.
"The transaction is on going concern basis by way of slump sale", it added.
The company had earlier in December 2013 announced its decision to acquire Elder Pharmaceuticals' branded domestic formulations business in India and Nepal for a consideration of around Rs 2,000 crore.
In the biggest such deal in the domestic drug sector, pharma major Sun Pharmaceutical Industry had announced in April 2014 that it would acquire troubled rival Ranbaxy in an all-stock transaction worth USD 4-billion that included USD 800 million debt.
Earlier today, Torrent Pharmaceuticals reported a 1.44 per cent dip in its consolidated net profit to Rs 204 crore for the second quarter ended September.
The company had posted a net profit of Rs 207 crore in the same period a year ago, Torrent Pharmaceuticals said in a BSE filing.
Consolidated revenue from operations stood at Rs 1,429 crore for the quarter under consideration as against Rs 1,429 crore for the corresponding period of the previous fiscal, it added.
Shares of Torrent Pharmaceuticals today closed 0.76 per cent lower at Rs 1,315.30 per scrip on BSE.