Sanofi’s Board of Directors has approved a transaction for the slump sale and transfer of its manufacturing facility at Ankleshwar in Gujarat to Zentiva and its legal entity in India, Zentiva for a consideration of Rs 261.7 crore, subject to customary working capital adjustments. This transaction is subject to shareholders’ approval and the completion of certain conditions as defined under the Business Transfer Agreement (BTA).
The Ankleshwar site is Sanofi India’s oldest manufacturing facility where brands like Combiflam, Allegra and Amaryl are made. The production of these iconic brands will now be moved to the company’s Goa site and external manufacturing sites as well.
Sanofi, a global and diversified healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients’ needs. Sanofi has core strengths in the field of healthcare with seven growth platforms: diabetes solutions, human vaccines, innovative drugs, rare diseases, consumer healthcare, emerging markets and animal health.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1696.65 |
| Dr. Reddys Lab | 1218.30 |
| Cipla | 1226.65 |
| Zydus Lifesciences | 936.00 |
| Lupin | 2339.20 |
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