Sterling buys Torrent Gujarat Bio plant

Torrent Gujarat Biotech has entered into a memorandum of understanding (MoU) with Sterling Biotech for the sale of its manufacturing facility at Masar, Vadodara, Gujarat, as an asset sale in an all-cash deal for Rs 55 crore.

According to a release issued by Torrent to the BSE today, the transaction is subject to necessary approvals/consent from BIFR, shareholders and GIIC.