Lupin Transfers API R&D to Subsidiary
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Lupin's board approves the transfer of its API R&D division to a wholly owned subsidiary. The company also modified an earlier OTC business transfer.
New Delhi, Mar 31 (PTI) Drug firm Lupin on Monday said its board has approved the transfer of its API R&D division to a wholly owned subsidiary on a slump sale basis.
The company's board has also approved modification to an earlier slump sale transaction by including an additional brand as part of the transfer of OTC business to LCHL, on a going concern basis, the drug maker said in a regulatory filing.
The company had intimated on February 12 this year regarding the board's approval for the transfer of the OTC Consumer Healthcare Business to a new wholly owned subsidiary.
The company has incorporated LUPINLIFE Consumer Healthcare Ltd, a wholly owned subsidiary for the purpose.
The company's board has also approved modification to an earlier slump sale transaction by including an additional brand as part of the transfer of OTC business to LCHL, on a going concern basis, the drug maker said in a regulatory filing.
The company had intimated on February 12 this year regarding the board's approval for the transfer of the OTC Consumer Healthcare Business to a new wholly owned subsidiary.
The company has incorporated LUPINLIFE Consumer Healthcare Ltd, a wholly owned subsidiary for the purpose.
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