Torrent Pharma in agreement with Unichem

Torrent will acquire Unichem’s branded business of India and Nepal for a consideration of Rs 3600 crore

Torrent Pharmaceuticals has entered into a definitive binding agreement with Unichem to acquire its branded business of India and Nepal for a consideration of Rs 3600 crore.

Unichem’s India business comprises a portfolio of more than 120 brands in India and Nepal, a manufacturing plant at Sikkim catering to these markets and all the employees engaged in the said business.

Torrent will fund the acquisition through a mix of internal accruals and bank borrowings.

The deal is expected to close by end of 2017. More than 3,000 employees will get added to Torrent’s employee pool.

Unichem will continue to have greater focus on international business comprising of manufacturing, selling and marketing of fixed dosage formulation and API.

It will also continue to build a sustainable revenue stream by investing in R&D to develop its future product pipeline.