Natco Pharma sells land in Telangana for Rs 116 crore
Telangana: Natco Pharma has sold clear and marketable titles of land admeasuring approximately 14.38 Acres i.e., 72,358 Sq. yards (hereinafter referred to as "Immovable Property” located at Mekaguda Gram Panchayat, Nandigama Mandal, Ranga Reddy District, Telangana, India for a total consideration of Rs. 115.57 crore including certain infrastructure cost.
As no business operations of the Company are carried out on the said land and building being sold, the said sale will not have any impact on the business operations of the Company. Further the sale of the said Property does not constitute as an undertaking or substantially the whole of the undertaking for the Company in terms of section 180(1)(a) of the Companies Act, 2013.
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NATCO Pharma Limited, headquartered at Hyderabad, India, develops, manufactures and distributes generic and branded pharmaceuticals, specialty pharmaceuticals, active pharmaceutical ingredients and crop protection products. The Company is a R&D oriented, and a science driven, leading Oncology player in the targeted therapies of domestic market and focuses on limited competition molecule in the US. The Company has 9 manufacturing sites and 2 R&D facilities in India. The Company’s manufacturing facilities are approved by several leading regulatory authorities like US FDA, Brazil ANVISA, Health Canada, WHO and others catering to 50+ global markets.
