| Log in

Wintac to divest oncology marketing division to promoter group firm Bangalore Pharma

28 November, 2014

Bangalore-based Wintac Ltd has decided to sell its trademarks and marketing division for the oncology products to Bangalore Pharmaceuticals & Research Laboratory Pvt Ltd, in a related party transaction, for Rs 1.09 crore ($176,300), as per a stock market disclosure.

The divestment aims to completely focus on the core activity of product development and manufacturing business for the regulated export markets, it said.

Oncology division is a small part of the company which recorded a sales of Rs 2.01 crore during the financial year 2013-14. It contributed 6.48 per cent to the total sales turnover of the company.

Founded in 1990, Wintac, a pharmaceutical company, is engaged in manufacturing of small volume and large volume parental and sterile ophthalmic preparations. It develops products in the ophthalmic, injectables and critical care segments. The firm has its manufacturing facility at Nelamangala, Bangalore.

Wintac’s scrip was trading at Rs 205 each, down 3.98 per cent on BSE in a strong Mumbai market on Friday at 12.12 PM.

Bangalore Pharmaceuticals and Research Laboratory manufactures pharmaceuticals products like arthnex oil, decazyme liquid, sagarlic pearl, sangfer liquid, beliv liquid and depile ointment.

(Edited by Joby Puthuparampil Johnson)


Leave Your Comment
Jacob Ballas picks 13.1% stake in Vivimed Labs on conversion of preference shares

Jacob Ballas picks 13.1% stake in Vivimed Labs on conversion of preference shares

Bhawna Gupta 5 years ago
NYLIM Jacob Ballas Fund III, managed by Jacob Ballas Capital India Pvt Ltd, has...
SMS Pharmaceuticals sells Visakhapatnam unit to Mylan for $33M

SMS Pharmaceuticals sells Visakhapatnam unit to Mylan for $33M

TEAM VCC 5 years ago
SMS Pharmaceuticals has sold its manufacturing units in Visakhapatnam to generic...
Vivimed Labs Acquires 60% Stake In Octtantis Nobel Labs

Vivimed Labs Acquires 60% Stake In Octtantis Nobel Labs

Anil Das 6 years ago
Hyderabad-based Vivimed Labs has acquired 60 per cent stake in Octtantis Nobel...
No Comments

Wintac to divest oncology marketing division to promoter group firm Bangalore Pharma

Powered by WordPress.com VIP