Unichem Labs ties up UK unit buy

Unichem Laboratories has acquired the balance 40% stake in its UK-incorpoated subsidiary Niche Generics from the group of managers of the company.

According to an official release issued by the company to the BSE today, prior to this acquisition, the company held 60% majority stake in the said Niche Generics, the balance 40% stake being held by the group of managers.

As a result of this acquisition, Niche Generics has become a wholly-owned subsidiary of the company. The UK based firm is engaged in the business of product development, dossier filing and manufacturing pharmaceutical formulations in the European markets, the release added.