Unichem Laboratories Acquires balance 40% stake in Unichem's Subsidiary Niche Generics, incorporated in United Kingdom

Unichem Laboratories Ltd has announced that the Company has acquired the balance 40% stake in its Subsidiary, incorporated in United Kingdom, M/s. Niche Generics Ltd, from group of Managers of the said Subsidiary. Prior to this acquisition, the Company held 60% majority stake in the said Niche Generics Ltd, the balance 40% stake being held by the said group of Managers. As a result of this acquisition, Niche Generics Ltd has become wholly owned subsidiary of the Company. The said Subsidiary, incorporated in United Kingdom, is engaged in the business of product development, dossier filing and manufacturing pharmaceutical formulations in the European markets.

Source : Equity Bulls

Keywords