DABUR Pharma on Thursday said it is making an exit from the
non-oncology business and is selling it off to Alembic for a
consideration of Rs 159 crore.
"The reason to exit from the non-oncology business is our decision to focus on the cancer segment, which is a growing business for us," Dabur Pharma COO Ajay K Vij said. He said the company, despite achieving healthy growth in the non-oncology segment, has decided to focus on cancer treatment.
Mr Vij said the transaction will involve an additional networking capital of Rs 5-8 crore over the consideration of Rs 159 crore.
The transaction is likely to be completed by the first quarter of the next fiscal, he added.
Alembic will acquire more than 20 brands in Dabur Pharma's non-oncology segment, including those in gynaecology and cardiovascular segments.
"We will now intensify our approach to grow the oncology segment and will actively pursue acquisitions in the growth markets, including the US," Mr Vij said.
Every time an offender stealthily leaves India to take refuge in another country, the Government of India starts all over again with its strategy of bringing him back to the nation to make him stan More
Helplinelaw can set up your session with quality and experienced lawyers to discuss and resolve your legal matters. You can avail consultation in form of sending questions, phone call or webchat discussion More