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IPCA Laboratories Limited ( (IN:IPCALAB) ) just unveiled an announcement.
Ipca Laboratories’ board has approved the sale of 100% equity in Bayshore Pharmaceuticals LLC, its non-operational, wholly owned step-down subsidiary in the US, to Centaur Pharmaceuticals USA Inc. for USD 400,000, following earlier divestments of Bayshore’s ANDAs and US generic formulations business to Unichem group entities. The move is aimed at eliminating ongoing compliance and maintenance costs associated with a shell entity and streamlining Ipca’s US corporate structure. Separately, Ipca plans to update its registered office address records with the Ministry of Corporate Affairs to add the district detail “Mumbai,” enabling it to file Industrial Entrepreneur Memorandum applications for new projects via the National Single Window System, without any actual change to the registered office location.
More about IPCA Laboratories Limited
Ipca Laboratories Limited is an India-based pharmaceutical company engaged in the development, manufacture and marketing of generic formulations and active pharmaceutical ingredients for domestic and international markets, including the United States. Through subsidiaries such as Ipca Pharmaceuticals Inc., USA, the company participates in regulated markets, with a focus on generic drugs and related healthcare products.
Average Trading Volume: 27,048
Technical Sentiment Signal: Strong Buy
Current Market Cap: 398.1B INR
Learn more about IPCALAB stock on TipRanks’ Stock Analysis page.