Unichem Laboratories Ltd. Sells Indore SEZ Plant to Mylan Inc. for $26.3 Million

Unichem Laboratories Ltd is selling its Indore-based SEZ plant to generic and specialty pharmaceuticals maker Mylan Laboratories Ltd for Rs 161 crore ($26.27 million), as per a stock market disclosure. "The board of directors of Unichem at its meeting held on February 15, 2013 had approved the sale of Indore SEZ plant to Mylan and members of the company had approved the sale on March 29, 2013 through a postal ballot," the company said in the filing. Mumbai-headquartered Unichem makes pharmaceutical ingredients and pharmaceutical formulations for various therapeutic areas, including gastro-intestinal, cardiovascular, diabetes, psychiatry, neurology, anti-bacterial, anti-infectives and pain management.

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