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No Smoke Without Fire: Unichem Divests Domestic Business To Torrent

 
• By Anju Ghangurde

Two years after denying sell-off plans, Unichem Laboratories is divesting its branded business in India and Nepal to peer Torrent for around $558m. The deal catapults Torrent to the top league on the domestic market and also sets the tone for potential consolidation in the Indian pharma space at more realistic valuations.

Big Fish
TORRENT HAS ACQUIRED UNICHEM'S DOMESTIC BUSINESS • Source: Shutterstock

Torrent Pharmaceuticals Ltd., which is believed to have missed out on a string of prominent acquisitions in recent years, has snapped up the domestic formulations business of local company Unichem Laboratories Ltd. for INR36bn ($558m).

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