Subscribe for perks & to support LI

Your Interests & Preferences: Personalise your reading

Which best describes your role and/or interests?

I work in a law firm
I work for a company / in-house
I'm a litigator at the bar
I'm a law student
Aspiring law student
Save setting
Or click here to show more preferences...

I am interested in the following types of stories (uncheck to hide from frontpage)

Firms / In-House
Legal Education

Always show me: (overrides the above)

Exclusives & Editor's Picks

Website Look & Feel

Light Text on Dark Background

Save preferences

Note: Your preferences will be saved in your browser. You can always change your settings by clicking the Your Preferences button at the top of every page.

Reset preferences to defaults?

Khaitan, Desai & Diwanji on Torrent Pharma’s $556m ‘complicated’ buy of Unichem Labs domestic biz

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.


Click to show 14 comments
at your own risk
By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click 'Report to LI' below the comment and we will review it as soon as practicable.
refresh Filter out low-rated comments. Show all comments. Sort chronologically
Like +2 Object -0 Complex Baba 10 Nov 17, 18:29
"Complicated" seems a part of deliberate reportage. Why is the special mention Kian? Are other deals uncomplicated?

This seems more of a deliberate attempt by KCO.
Reply Report to LI
Like +0 Object -0 Guest 10 Nov 17, 21:35
Bhai approval chahiye hoga!!! Toh complicate likh diya. Pharma hai toh dikhana padega na that law bhi padha tha aur approval bhi laya aur shayad non compete mein panga hoga.
Reply Report to LI
Like +0 Object -0 BTA 11 Nov 17, 15:29
Stamp duty kitna diya?

BTA per

Land per

Delivery note - kya collector isko @ 3 percent pe karega ? Notice aaya?
Reply Report to LI
Like +7 Object -0 Complicated fiasco 10 Nov 17, 23:51  interesting
Aren't all pharma deals complicated in light of regulatory laws and transitional issues ? one domestic pharma company buying other, half of the regulatory issues will be handled and are known by the acquirer. One doesn't need to hand hold them. Try doing a deal where the buyer is fund or a foreign entity. You will see how complicated it can be.
Reply Report to LI
Like +1 Object -0 Guest 11 Nov 17, 11:59
Go Bhavik!
Reply Report to LI
Like +1 Object -0 Gulabi 11 Nov 17, 17:19
Which firm has a pharma practice? Don't deals like these require pharma regulatory specialists? Wonder if any one from these had that.
Reply Report to LI
Like +3 Object -1 pharma lawyer 12 Nov 17, 14:17
Bhavik Narsana is a pharma expert who has all round knowledge of regulatory aspects involved, coupled with a strong M&A focus.
Reply Report to LI
Like +1 Object -1 Disprover 12 Nov 17, 19:52
Does he have a medical background? Don't you need to have some bio background to be able to do pharma?
Reply Report to LI
Like +0 Object -0 Do not disturb 12 Nov 17, 14:50
I ain't a fan of any law firms per se as in the words of ram jethmalani, they are sweat shops were insomnia is rewarded.

This said, hats off to KCO, at least they name people who have worked on the deal. D and d worked where only one person was involved. This guy must be a rockstar.
Reply Report to LI
Like +0 Object -0 Good one 12 Nov 17, 20:48
So true
Reply Report to LI
Like +0 Object -0 kianganz 13 Nov 17, 11:59
It was Khaitan's press release, so that's why D&D details were more sparse.

D&D has now supplied the other D&D team members now: Senior Associate Farida Dholkawala and Associates Shireen Langrana and Sameer Patel.
Reply Report to LI
Like +1 Object -0 Just Asking 15 Nov 17, 10:22
Wasn't Legally India supposed to reach out to the other law firm before publishing? Or was that Khaitan's responsibility?
Reply Report to LI
Like +0 Object -0 Ali-as 16 Jan 18, 11:56
Kian how come you didn't point out that Haigreve is on the Tpharma board. biased publishing. In all other deal reporting you do always bring out some 'personal' angle! tsk tsk
Reply Report to LI
Like +0 Object -0 kianganz 16 Jan 18, 12:08
Hi, thanks for sharing that interesting tidbit - we would definitely have loved to include that information, but unfortunately I hold my hands up and admit: we did not know about this! :(
Reply Report to LI

Latest comments