Unichem Laboratories Limited (“Unichem”) has completed the sale and transfer of its domestic formulations business in India and Nepal, on a going concern basis by way of slump sale, to Torrent Pharmaceuticals Limited (TPL).
Going ahead Unichem will:
- focus attention on all aspects of the international business including finished formulations, API, contract manufacturing and contract research;
- increase its investments in R&D in the New Chemical and Biological Entities (NCE & NBE), Bio-similars and complex generics; and
- reward shareholders
Mr. Jayendra Shah, played a pivotal role in successful consummation of the transaction. He was the sole financial advisor to Unichem on negotiations, valuations and deal closure. N A Shah Associates LLP, Chartered Accountants were the advisors for tax and related matters and Trans Continental Capital Advisors Pvt. Ltd. were the strategic advisors.