IPCA Laboratories, a Mumbai-based drugmaker, announced that the company has acquired as a going concern on slump sale basis the high potency oral solid dosage formulations manufacturing unit situated at sector III, Pithampur, Dhar (Madhya Pradesh). The acquisition consisting of its leasehold land admeasuring 40,000 sq mtrs together with buildings admeasuring 9,523 sq mtrs standing thereon along with its plant and machineries, product dossiers and registrations, intellectual property rights belonging to the said manufacturing unit, etc.

Together with its employees from Alpha Laboratories for a consideration of Rs 717.1 million inclusive of non compete fees but excluding stamp duty, transfer charges and registration fees payable for effectively transferring the said manufacturing unit in the name of the company.

The acquisition of this manufacturing unit will help the company in forward integrating the hormonal APIs being manufactured by the company at its manufacturing unit situated at Nandesari with hormonal formulations for the world market.

Shares of the company declined Rs 3.75, or 0.47%, to trade at Rs 788.30. The total volume of shares traded was 5,744 at the BSE (2.02 p.m., Wednesday).