Torrent Pharmaceuticals Ltd. said it completed acquisition of Indian drugmaker Unichem Laboratories Ltd.'s branded businesses in India and Nepal.
India-based Torrent agreed to pay 36 billion Indian rupees to gain access to more than 120 brands in India and Nepal along with a manufacturing plant in the Indian state of Sikkim.
The transaction was completed on a going-concern basis by way of a slump sale which means the fully operational business was sold off as a whole for a lump sum consideration.
As of Dec. 13, US$1 was equivalent to 64.39 Indian rupees.
