Sealing the Deal: Torrent Pharma Completes Acquisition of Unichem Labs
Gujarat based multinational pharma major Torrent Pharmaceuticals has now announced the acquisition of branded business of Unichem Labs for India and Nepal, including its Sikkim manufacturing facility, on a going concern basis by way of slump sale.
Torrent Pharma stated, “From today, Torrent begins the integration of the Unichem business following the successful closure of its acquisition. The integration will aim to fuel and support strong growth of the acquired Unichem brands, consolidating specialty reach with a relentless focus on enhancing productivity. The acquisition will accelerate Torrent’s presence in the chronic space especially in the high growth segments of Indian Pharma market like Cardiology, Diabetology and Gastroenterology. Moreover, Unichem brings in an important new platform in Torrent’s sustainable growth strategy by expanding the Company’s presence in the OTC segment.”
Samir Mehta, Chairman -Torrent Pharma commented: “The acquisition of Unichem’s domestic branded business by Torrent Pharma is a major step forward in the company’s growth strategy in consolidating its India business. Both companies Unichem and Torrent share a long and proud history in the Indian pharma market with a common business culture, a factor which I believe will immensely aid in the successful integration of the combined business
.”Torrent Pharma, with annual revenues of more than Rs 5,800 crores is the flagship Company of the Torrent Group. The Company’s manufacturing plants located at Indrad, Baddi, Sikkim, Dahej, Pithampaur and Vizag have facilities to produce Formulation and Bulk drugs. The plants are approved by authorities from various regulated and semi regulated markets like US, UK, Brazil, Germany, Australia and South Africa.
