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St. Louis manufacturing plant situated in USA owned by S&B Pharma LLC, a step-down subsidiary of the company. Its turnover was Rs 30.92 crore. The said manufacturing facility contributes 0.27% of total turnover.
All rights, title and interest in the land, improvements and personal property with respect to the said facility has sold to New Mill Capital Holdings.
“The purchase and sale agreement was entered into for sale of the facility subject to satisfactory due diligence. The agreement was executed subject to completion of the above-mentioned condition on 15th November, 2023,” the company stated in regulatory filing.
Alkem Laboratories is engaged in pharmaceutical business with global operations. The company is engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.
The company’s consolidated net profit surged 87.6% to Rs 620.52 crore on 11.7% jump in net sales to Rs 3,440.17 crore in Q2 FY24 over Q2 FY23.
The scrip rose 1.30% to settle at Rs 5,192.60 on Friday, 29 December 2023.
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