GSK to sell Vemgal plant to Hetero Labs for Rs 180 crore
New Delhi: Drug firm GlaxoSmithKline Pharmaceuticals on Wednesday said its board has approved the sale of its manufacturing facility located at Vemgal in Karnataka to Hetero Labs for a consideration of Rs 180 crore.The board of directors at its meeting held on Tuesday, "approved the sale of the company's business undertaking i.e., manufacturing facility together with the land, plant...
Login or Register to read the full article
New Delhi: Drug firm GlaxoSmithKline Pharmaceuticals on Wednesday said its board has approved the sale of its manufacturing facility located at Vemgal in Karnataka to Hetero Labs for a consideration of Rs 180 crore.
The board of directors at its meeting held on Tuesday, "approved the sale of the company's business undertaking i.e., manufacturing facility together with the land, plant and machinery, assets, software and equipment located at Vemgal, Karnataka, to Hetero Labs Ltd," the company said in a regulatory filing.
The transaction is expected to be completed by September 30, 2021, it added.
Consideration received from the sale is Rs 180 crore, the filing said.
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement/treatment or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2024 Minerva Medical Treatment Pvt Ltd