Torrent to buy India biz of Unichem for Rs 3,600 crore

New Delhi, November 3

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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 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 $4-billion that included $800-million debt. With this deal, Torrent Pharma will enter the list of top pharma firms in the Indian Pharma market and will be ranked at number five. — PTI