Torrent Pharma to acquire Unichem's India, Nepal biz for Rs 3,600 cr

In a major consolidation move in the domestic pharma sector, drug firm Torrent Pharmaceuticals on Friday 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 transaction is on going concern basis by way of slump sale", it added.

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.