Pharma co Ipca acquires 33% in generics maker Unichem Labs for Rs.1,034-Cr

lpca Laboratories Ltd is to acquire a 33.38% stake in fellow publicly-listed pharmaceutical company Unichem Laboratories Ltd. The shares would be acquired - from the target company's promoter-shareholder - at INR 440 per share aggregating to INR 1,034.06 crore. Ipca is also making an open offer to the public equity shareholders of Unichem to acquire up to 26% of the fully diluted outstanding equity share capital at the same price. N A Shah served as advisors to Dr. Prakash Mody, chairman of Unichem Laboratories Ltd and to the company. Unichem manufactures and markets pharmaceutical formulations in several countries across the globe. Its major markets are the US and Europe.