Wockhardt divests animal health division

Pharma major Wockhardt today said it has completed the sell-off process of its animal health division to France-based Vetoquinol SA.

The company has completed the divestment of its Animal Health Division, Wockhardt said in a filing to the Bombay Stock Exchange.

On August 6, the debt-ridden company received the shareholders' approval for selling its animal healthcare business to France-based Vetoquinol SA.

The company had entered into an agreement with Vetoquinol to divest the animal health division for around Rs 170 crore, as part of its strategy to sell its non-core business to reduce debt.

Shares of Wockhardt today closed at Rs 159.40 on the BSE, up 2.08 per cent from previous close.