Unichem board to consider integrating US formulation biz under single entity

Drug firm Unichem Laboratories on Monday said its board will meet next week to consider consolidation of its US formulation business under one entity. The board, on September 30, will consider integration and consolidation of the generics formulations business in the US market of Bayshore Pharmaceuticals LLC into Unichem Pharmaceuticals Inc, it said in a regulatory filing.

The initiative is to consolidate all the Ipca Group's US generics formulations business under one entity, it added.

Shares of Unichem Laboratories were trading 2.59 per cent down at Rs 628.05 apiece on the BSE.