| Financial institutions including ICICI, Industrial Finance Corporation of India and State Bank of India sold the facility to Unichem Laboratories under the Securitisation Act. |
| The unit has been acquired at an investment of Rs 15 crore, said a statement from Unichem. The acquisition has been made keeping the international markets in mind. The company has subsidiaries in the US, Europe and Brazil. |
| According to P A Mody, chairman and managing director, Unichem: "We plan to upgrade this facility to get regulatory approvals from the USFDA and other developed markets. The upgradation will be completed within the next 10-12 months at an additional investment of around Rs 20 crore." |
| Unichem had been short on API facilities since all its units excepting one are formulation units. |
| Currently Unichem has an API facility at Roha, Maharashtra. Between the new API facility in Indore and Roha, Unichem will be able to manufacture about 17 bulk drugs. Its formulation plants are located in Goa, Ghaziabad and Baddi in Himachal Pradesh. |
| Genesis Management Consultancy Services was the investment banker and N A Shah Associates was the advisor for the transaction. |
| Unichem develops, manufactures and markets a wide range of pharmaceutical products in India and overseas. It produces and markets finished dosage formulations and active pharmaceutical ingredients in anti-infective, cardiovascular, psychiatry and neurology, musculo-skeletal, gastro-intestinal, nutritional, anti-allergic and other therapeutic areas. |
| Unichem is also involved in research and development of new drug delivery systems and development of non-infringing process for active pharmaceutical ingredients. |
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