Drug firm Lyka Labs has sold its formulation manufacturing unit at Tarapur for Rs 38.61 crore.
It, however, did not disclose the identity of the buyer.
"The company have concluded agreement for sale of formulation manufacturing facilities located at MIDC, Tarapur Industrial Area, Boisar, Maharashtra for a consideration of Rs 38.61 crore," Lyka Labs said in a filing to BSE.
The company has another manufacturing facility in Ankleshwar.
The Tarapur plant manufactures host of medicines in segments like antibiotics, antibacterials, antifungals, analgesics, enzymatics preparations, veterinary oral powder among others in the facility.
Shares of Lyka Labs were trading at Rs 19.85 per scrip in the afternoon trade on BSE, up 4.75 per cent from its previous close.
