Alkem Laboratories Sells Pithampur Unit for Rs 149 Crore

New Delhi, Jan 7 (PTI) Alkem Laboratories Ltd on Tuesday said it will sell its manufacturing facility in Pithampur, Madhya Pradesh, to Rubicon Research Ltd for Rs 149 crore, on a slump sale basis.

The company has entered into a business transfer agreement with Rubicon Research Ltd on January 6, 2025, to sell the facility on a slump sale basis, Alkem Laboratories said in a regulatory filing.

The consideration received from the sale is Rs 149 crore, it added.

The company said the sale is part of an "ongoing initiative of networking strategy and optimisation of manufacturing facilities".

Rubicon is engaged in the business of development, manufacture, distribution and sale of pharmaceutical formulations, the company said.