Alkem Labs to sell Pithampur facility to Rubicon Research for Rs 149 crores
Mumbai: Alkem Laboratories Limited will sell its Pithampur manufacturing facility to Rubicon Research Limited for Rs 149 crores on a slump sale basis, the Company informed in a recent BSE filing.
The company entered into a business transfer agreement with Rubicon Research Ltd on January 6, 2025, for the sale of the facility.
"This is to inform you that as part of the Company’s operational strategy, the Company shall sell and transfer its undertaking being the manufacturing facility of the Company situated at Plot No. A-17, Phase II, Special Economic Zone, Pithampur, Dhar, Madhya Pradesh, 454775, India (“Facility”) alongwith all rights, title and interest in the leasehold land, factory building, assets and liabilities etc. with respect to the said Facility to M/s. Rubicon Research Limited (formerly known as Rubicon Research Private Limited) (“Rubicon”) on a slump sale basis pursuant to the Business Transfer Agreement dated 06 January, 2025 executed between the Company and Rubicon," Alkem stated.
"There will not be any change in the shareholding pattern of the Company pursuant to the slump sale," the Company added.
Consideration received from the sale of the facility Rs 149 crores, subject to changes in Net Current Assets, it further said.
The sale is part of an the company's ongoing initiative of networking strategy and optimisation of manufacturing facilities.
Alkem Laboratories Ltd is an Indian pharmaceutical company engaged in the development, manufacture, and sale of pharmaceutical and nutraceutical products. The company produces branded generics, generic drugs, active pharmaceutical ingredients (APIs) and nutraceuticals in acute and chronic therapeutic areas, such as anti-infective, pain and analgesics, vitamins/minerals/nutrients, cardiac and Diabetology, Gynecology, Ophthalmology, neuro/central nervous system, dermatology, anti-diabetes, anti-osteoporosis, cardiovascular, and muscle relaxants, which are marketed in Indian and International markets. It operates through the pharmaceutical business segment.
