Unichem Laboratories advanced 2.97% to Rs 663.90 after the company announced that its board will meet on Monday, 30 September 2024, to consider integration and consolidation of all USA generic formulations business under single entity.
In an exchange filing made before market hours today, the company said that its board will consider integration and consolidation of the generics formulations business in the US market of Bayshore Pharmaceuticals LLC into Unichem Pharmaceuticals (USA) Inc. so as to consolidate all the Ipca Groups USA generics formulations business under one entity.
Bayshore Pharmaceuticals LLC is a wholly owned subsidiary of Unichems holding company Ipca Laboratories.
Unichem Pharmaceuticals (USA) Inc. is the wholly owned subsidiary of Unichem Labs.
Unichem Laboratories is a pharmaceutical company. It addresses the needs of therapeutic areas like gastroenterology, cardiology, diabetology, psychiatry, neurology, anti-bacterials, anti-infectives and pain management.
The company had reported a consolidated net profit of Rs 9.26 crore in the quarter ended June 2024 as against net loss of Rs 0.67 crore during the previous quarter ended June 2023. Sales rose 5.49% to Rs 446.43 crore in Q1 FY25 over Q1 FY24.
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