Torrent to buy Unichem's domestic biz for Rs 3,500 cr; announcement today

What makes Unichem lucrative to potential buyers is that only 10-12 per cent of its domestic drug portfolio comes under the National List of Essential Medicines

Ahmedabad-headquartered pharmaceutical giant Torrent Pharmaceuticals is likely to announce the acquisition of Unichem Laboratories' domestic business for a consideration of about Rs 3,500 crore after market hours on Friday. 

The company's board is meeting on Friday for approving the second quarter results. Sources in the know said that the announcement would come in after the board meeting ends in the afternoon. 

Interestingly, on October 24, Unichem, too, had said that it was postponing its board meeting (earlier scheduled for October 31) to November 3, the same day as that of Torrent Pharmaceuticals. 

For some time now, 73-year-old Unichem Laboratories has been on the