Alembic Pharma sells formulations manufacturing plant at Baddi

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Alembic Pharmaceuticals said that it has sold its formulations manufacturing facility at Baddi. The company has sold its formulations manufacturing facility at Baddi on slump sale basis to Scott Edil Pharmacia (SEPL), a company engaged in the business of pharmaceuticals products. SEPL does not belong to the promoter/promoter group/group companies and is not a related party of the company.

The turnover and net worth of the said manufacturing facility for the last financial year vis-a-vis turnover and net worth of the company is insignificant. The company continues to meet its domestic formulation demand from Sikkim unit and international formulation demand from its Panelav unit. 

Meanwhile, shares of the company were trading at Rs 515 apiece, up 1.85 per cent from the previous close at 10:50 hours on BSE.

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