Alembic Pharmaceuticals sold their formulations manufacturing unit which results in shares gain of 3% for the company on Thursday.
The sale transaction of the facility takes place at Baddi and the acquirer is Scott Edil Pharmacia (SEPL) which is also engaged in pharmaceuticals product business.
SEPL does not belong to any promoter group and is not a related party of the company. The manufacturing facility sold estimated turnover and net profits values not disclosed by the company.
There is not much effect on formulation demand of the company as the targets are meeting up domestically from Sikkim unit and internationally from Panelav unit.