Deal Street

November 07, 2017

Torrent Pharma acquires Unichem for Rs 3,600 crore

Torrent Pharma

The domestic business of Unichem Laboratories is being acquired by Torrent Pharma for Rs 3,600 crore, making the Ahmedabad-based company among the country’s top five drugmakers.

Torrent acquired Elder Pharma's branded formulations business for about Rs 2,000 crore in 2014. Analysts expect Unichem to use the proceeds from the deal to ramp up its unprofitable international business. The transaction will strengthen Torrent's position in cardiology, diabetology, gastro-intestinals and central nervous systems therapies, Torrent chairman Samir Mehta said.

"The deal will enable the organisation to deliver superior results in areas of innovative research, new chemical and biological entities and move into next orbit of growth," said Prakash Modi, Chairman of Unichem Laboratories.

Khaitan & Co acted for Torrent Pharma and the team was led by Partner Bhavik Narsana along with the Senior Associate Minhaz Lokhandwala and Associate Shreya Mukherjee. Counsel Shailendra Bhandare counseled on the intellectual property rights related aspects.

Desai & Diwanji advised Unichem Laboratories with a team led by Partner Apurva Diwanji along with Senior Associate Farida Dholkawala and Associates Shireen Langrana and Sameer Patel.

The deal will also grant Torrent access to 120 brands of Unichem in India and Nepal besides a manufacturing unit in Sikkim.

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