Panacea Biotec to sell domestic formulations biz to Mankind Pharma for Rs.1,908-Cr

Lalru, Punjab-based, publicly listed Panacea Biotec Ltd (PBL) is to sell its domestic formulations business to New Delhi-based Mankind Pharma for INR 1,908 crore. The target business - operated under PBL's 100% subsidiary, Panacea Biotec Pharma Ltd (PBPL) - had reported a turnover of INR 219.85 crore for FY21.