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GSK Pharma board approves sale of Vemgal facility to Hetero Labs for Rs 180 crores

expresspharmaApril 01, 2021

Tag: GSK , Vemgal , Hetero Labs

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GlaxoSmithKline Pharmaceuticals said its board has approved the sale of its manufacturing facility located at Vemgal in Karnataka to Hetero Labs for a consideration of Rs 180 crores.

The board of directors “approved the sale of the company’s business undertaking i.e., manufacturing facility together with the land, plant and machinery, assets, software and equipment located at Vemgal, Karnataka, to Hetero Labs Ltd,” the company said in a regulatory filing.

The transaction is expected to be completed by September 30, 2021, it added.

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