Sanofi to reward shareholders with Rs 261 cr made from Ankleshwar unit sale

The sale will translate into average annual revenue loss of Rs 470 cr, which Sanofi plans to mitigate through renewed focus on core activities and brands

Drug maker Sanofi India has sold its Ankleshwar manufacturing plant to European pharmaceutical company Zentiva for Rs 261 crore as a part of its long-term strategy. Sanofi  will use the sale proceeds for further business development and to reward shareholders, the company said today.

The company's manufacturing plants in Ankleshwar (Gujarat) and Goa produce drugs for both, the domestic market and exports. Sanofi supplies generic drugs to Zentiva from its Ankleshwar plant as a part of a five-year deal. The sale of the unit would translate into an estimated average annual revenue loss to the company of about Rs 470