Torrent Pharmaceuticals said it completed its previously announced acquisition of the branded formulation business of Unichem Laboratories for India and Nepal, including its Sikkim manufacturing facility.
The deal was signed on 3rd November, 2017.
With this, Torrent has entered the list of top pharma firms in the Indian market.
“From today, Torrent begins the Integration of the Unichem busine.ss following the successful closure of its acquisition,” the company said.
It said it will try to “fuel and support” strong growth of the acquired Unichem brands, consolidating speciality 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.”
“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,” said Chairman Samir Mehta.