Panacea Biotec has entered into a definitive agreement to divest its 100% stake held in NewRise Healthcare (NHPL) which has set up a multi-speciality hospital at Gurugram which is near completion, to Narayana Hrudayalaya (NH).
Under the definitive agreement, the company has agreed to sell its 100% equity shares in NHPL to NH and the company's associate company PanEra Biotec has agreed to sell 100% preference shares in NHPL to NH.
Panacea Biotec is one of India’s leading research based Biopharmaceutical Company with established research, manufacturing and marketing capabilities. The company has product portfolio that’s caters therapeutics areas like pain management, diabetes and cardiovascular management, renal disease management, osteoporosis management, anti-tubercular, gastro-intestinal.
