Unichem Labs offloads stake in Optimus Drugs for Rs 67 crore; shares rise

Unichem Laboratories stock price gained 2 percent after the pharma company sold the equity shares held in Optimus Drugs to Sekhmet Pharmaventures for Rs 67.47 crore.

In a filing with the exchanges, Unichem Laboratories noted that 4,918 equity shares representing 0.02 percent holding in Optimus Drugs with a carrying value of Rs 0.29 crore in the company’s books were sold.

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This is Unichem Lab’s second tranche of divestment of Optimus Drugs. In May 2022, Unichem Labs sold 19.97 percent of equity shares of Optimus to Sekhmet Pharmaventures on a fully diluted basis in the first tranche, for an aggregate consideration of Rs 270.99 crore.

As of 9.40 am, shares of Unichem Labs traded 1.23 percent higher on the NSE, at Rs 424.85 apiece.

On September 21, Ipca Laboratories acquired a stake of 19.29 percent in Unichem Laboratories, the company informed the exchanges on September 21. Ipca Labs purchased 1,35,79,571 equity shares for Rs 440 per share aggregating to a total of Rs 597.50 crore.

Through this transaction, Unichem Laboratories has now become a subsidiary of Ipca Labs. Post the acquisition, Ipca Laboratories holds 52.67 percent of Unichem Laboratories.

So far in 2023, shares of the pharma player have risen 37.93 percent. In comparison, Nifty 50 has recorded gains of 14.27 percent during the same time period. The counter is trading above all the key moving indicators, indicating positivity in the scrip.

Unichem has several pharma products that address the needs of relevant and growing therapeutic areas like gastroenterology, cardiology, diabetology, psychiatry, neurology, anti-bacterial, anti-infectives and pain management, according to the company.

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