Torrent Pharma, the flagship company of the Torrent Group, have announced their acquisition of the domestic formulations business of Unichem Laboratories, one of India's oldest and largest pharma companies, for about Rs 3,600 crores (around $556m), through a business transfer agreement, as reported by The Economic Times and Business Standard.

Khaitan & Co acted as the legal counsel to Torrent Pharma and was led by partner Bhavik Narsana, along with the core transaction team comprising of senior associate Minhaz Lokhandwala and associate Shreya Mukherjee. Counsel Shailendra Bhandare advised on the intellectual property rights related aspects of the deal. The transaction involved several complicated issues, including regulatory issues in the pharmaceutical sector, according to Khaitan's press release.

Desai & Diwanji advised and acted for Unichem Laboratories and was led by partner Apurva Diwanji. Update 13 November 2017: The team also included senior associate Farida Dholkawala and associate Shireen Langrana and associate Sameer Patel.

Torrent Pharma is ranked amongst the top pharmaceutical companies in India and the deal will give them access to 120 brands of Unichem in India and Nepal besides a manufacturing unit in Sikkim.

2017-11-03