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).

Also Read: Granules India To Exit From Chinese JV Granules Biocause

"... 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.

Also Read: Granules India To Sell Entire Stake In Granules OmniChem To JV Ajinomoto