Ipca Laboratories to Sell Formulations Manufacturing Facility for Rs. 36.90 Crores and Acquire Unichem Laboratories Ltd., Ireland for Rs. 4 Crores

Ipca Laboratories Ltd. has approved the sale of its formulations manufacturing facility at Tarapur, Palghar to M/s. V. S. International Pvt. Ltd. for a consideration of Rs. 36.90 crores. The sale will not impact the company's business as the products can be manufactured in other facilities. The company also plans to acquire 100% share capital of Unichem Laboratories Ltd., Ireland from Unichem Laboratories Ltd., India for a consideration of Rs. 4 Crores. Unichem Ireland was incorporated to hold registration of formulation product dossiers in Europe and market/distribute the registered formulations manufactured by Unichem India in the European market.