SMS Pharmaceuticals has considered and approved the sale consideration for Unit -VI situated at Plot No 28, Jawaharlal Nehru Pharma City, Parawada, Visakhapatnam, Andhra Pradesh (A.P.), as Rs 173.00 crore. The company has identified and finalized ‘Mylan Laboratories’ as buyer out of the proposals received.
The company has already received its board’s approval for the same at a meeting held on August 18, 2012.
SMS Pharmaceuticals is engaged in the manufacturing of Active Pharmaceutical Ingredients (APIs) and its intermediates. The company has six manufacturing facilities and two R&D facilities located in Andhra Pradesh.
