Torrent to acquire Unichem’s India, Nepal businesses for Rs 3,600 crore

NEW DELHI: Torrent Pharmaceuticals has announced the acquisition of Unichem's branded formulations business for Rs 3,600 crore on Friday. The deal includes India and Nepal businesses.

Unichem's India business comprises of a portfolio of more than 120 brands in India and Nepal, manufacturing plant at Sikkim catering to these markets and all the employees engaged in the said business.

The transaction is ongoing concern basis by way of slump sale, the company said in a statement to NSE.

Torrent will fund the acquisition through a mix of internal accruals and bank borrowings.

Unichem will continue to have greater focus on international business comprising of manufacturing, selling and marketing of fixed dosage formulation and API. It will also continue to build a sustainable revenue stream by investing in R&D to develop its future product pipeline.

This will be Torrent's fifth acquisition in India after acquiring the selected brands of Elder and Novartis, as well as manufacturing plants from ZygPharma and Glochem Industries Ltd. in the last four years.