Granules India sells entire stake in JV Biocause Pharma
New Delhi: Drugmaker Granules India Ltd recently said it has divested its entire stake in Granules-Biocause Pharmaceutical Co Limited, a joint venture company located in China.
Last year, Granules India had intimated about the divestment of the entire stake of the JV company for a total consideration of RMB 109 million (around Rs 110.8 crore).
"... the transaction is completed and Granules-Biocause Pharmaceutical Co Limited ceased to be the joint venture company of Granules India Limited," Granules India said in a regulatory filing.
Granules India produces finished dosages, pharmaceutical formulation intermediates and active pharmaceutical ingredients. It has six manufacturing facilities in India, one in China and one in the United States.