Alkem Laboratories to sell Pithampur unit for Rs 149 crore

The company has entered into a business transfer agreement with Rubicon Research Ltd on January 6, 2025, to sell the facility on a slump sale basis.

Alkem Laboratories to sell Pithampur unit for Rs 149 crore
The company said the sale is part of an "ongoing initiative of networking strategy and optimisation of manufacturing facilities". Image source | Unsplash

Alkem Laboratories Ltd on Tuesday said it will sell its manufacturing facility in Pithampur, Madhya Pradesh, to Rubicon Research Ltd for Rs 149 crore, on a slump sale basis.

The company has entered into a business transfer agreement with Rubicon Research Ltd on January 6, 2025, to sell the facility on a slump sale basis, Alkem Laboratories said in a regulatory filing.

The consideration received from the sale is Rs 149 crore, it added.

The company said the sale is part of an "ongoing initiative of networking strategy and optimisation of manufacturing facilities".

Rubicon is engaged in the business of development, manufacture, distribution and sale of pharmaceutical formulations, the company said.

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Written By: PTI
Updated: Tue, Jan 07, 2025
03:23 PM IST
New Delhi, PTI
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