Unichem Labs Eyes US Market Consolidation

Unichem Laboratories announced that its board will meet next week to consider consolidating its US formulation business into one entity. The meeting, scheduled for September 30, will review integrating Bayshore Pharmaceuticals LLC into Unichem Pharmaceuticals Inc. This move aims to streamline the Ipca Group's US generics formulations business.

Unichem Laboratories revealed plans to consolidate its US formulation business under a single entity. The company's board is slated to meet next week to discuss this critical initiative.

On September 30, the board will evaluate the integration of Bayshore Pharmaceuticals LLC's generics formulations into Unichem Pharmaceuticals Inc., according to a regulatory filing. This consolidation effort aims to unify all of Ipca Group's US generics operations.

Despite the strategic move, shares of Unichem Laboratories saw a downturn, trading at 2.59% lower at Rs 628.05 per share on the BSE.

(With inputs from agencies.)