Unichem acquires remaining 40% stake in Niche Generics

New Delhi, Dec 15 (UNI) Unichem Laboratories Ltd today announced acquisition of the remaining 40 per cent stake in its UK-based subsidiary Niche Generics Ltd.

The company already held 60 per cent stake in the Niche Generics Ltd, the balance stake being held by the latter's of Management.

As a result of the acquisition, Niche Generics Ltd has become wholly-owned subsidiary of the company. It is engaged in the business of product development, dossier filing and manufacturing pharmaceutical formulations in the European markets.

Unichem also said it plans to penetrate in the semi-urban and rural markets in India.

It is test marketing in 10 territories in semi-urban areas and evaluating its effectiveness.

Currently the company primarily caters to markets in Uttar Pradesh, Andhra Pradesh, Maharashtra and Gujarat.

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