Unichem Laboratories Set To Discuss US Business Consolidation At Upcoming Board Meeting

Unichem Laboratories announced on Monday that its board will convene next week to discuss the consolidation of its US formulation business.

During the meeting on Sept. 30, the board will evaluate the integration of Bayshore Pharmaceuticals LLC’s generic formulations business into Unichem Pharmaceuticals Inc, according to the exchange filing.

This move aims to unify all of the Ipca Group's US generic formulations under a single entity.

The stock rose as much as 4.46% during the day to Rs 675 apiece on the NSE. The stock closed 1.26% lower at Rs 638 per share. This compares with a 0.57% advance in the benchmark Nifty 50. It has risen 53.96% in the last 12 months and 54.40% year-to-date.

(With Input From PTI)