Alkem Laboratories Ltd updates on sale of S&B Pharma LLC's facility

As part of Alkem Laboratories Limited's operational strategy, the operations of the Company carried out at the St. Louis manufacturing facility situated in USA owned by M/s S&B Pharma LLC, a step-down subsidiary of the Company, ("Facility") are closed. Accordingly, all rights, title and interest in the land, improvements and personal property with respect to the said Facility owned by M/s S&B Pharma LLC, a step-down subsidiary of the Company in USA ("Seller") are sold to M/s New Mill Capital Holdings LLC ("Buyer") pursuant to the 'Purchase and Sale Agreement' executed between the Buyer and Seller.

The Purchase and Sale Agreement was entered into for sale of the Facility subject to satisfactory due diligence. The agreement was executed subject to completion of the above-mentioned condition on 15th November, 2023.

The consideration received from the above sale is USD 7,960,000.00.

Shares of Alkem Laboratories Limited was last trading in BSE at Rs. 5192.60 as compared to the previous close of Rs. 5126.05. The total number of shares traded during the day was 2277 in over 499 trades.

The stock hit an intraday high of Rs. 5214.45 and intraday low of 5110.95. The net turnover during the day was Rs. 11766537.00.

Source : Equity Bulls

Keywords

AlkemLaboratories INE540L01014 SandBPharmaLLC AssetSale