Themis Medicare has received approval to transfer its Active Pharmaceutical ingredients (API) business including the manufacturing facilities of the Company at Vapi, Valsad District, Gujarat and Jeedimetla, Malkajgiri District, Telangana, to Themis Lifestyle -- a subsidiary of the Company on a going concern basis. The expected date of completion of the sale of the API business of the Company is by March 31, 2023 subject to receipt of all applicable approval. Cash consideration amounting to Rs 125 crore will be payable by the transferee company to the transferor company.
Themis Medicare is a research-based pharmaceutical company specializing in manufacture of a wide range of products for application areas like Pain Management, Critical Care and Anti-Infectives.
