 "The Sanofi logo is seen at the company's headquarters in Lyon, France. Photo: Reuters")
Drug maker Sanofi India has sold its Ankleshwar manufacturing plant to European pharmaceutical company Zentiva for Rs 261 crore as a part of its long-term strategy. Sanofi will use the sale proceeds for further business development and to reward shareholders, the company said today.
The company's manufacturing plants in Ankleshwar (Gujarat) and Goa produce drugs for both, the domestic market and exports. Sanofi supplies generic drugs to Zentiva from its Ankleshwar plant as a part of a five-year deal. The sale of the unit would translate into an estimated average annual revenue loss to the company of about Rs 470
