UB Group Sells Its Pharma Unit to Bayir Chemicals

The Vijay Mallya controlled UB Group has sold the Tumkur manufacturing facility of its subsidiary UB Pharmaceuticals Ltd (UBPL) to Bangalore-based Bayir Chemicals. The unit, which is spread on an area of five acre land has been divested for a consideration of Rs 4 crore. The deal was signed on March 15. Bayir-Group is believed to be a Rs 50 crore worth Bangalore-based herbals and chemicals exporters. Bayir manufactures and exports nutraceuticals and herbal extracts like glucosamine, bacopa monniera extract, calcium sennocides, embelica Officinale extract, rauwolfia serpentina extract and likewise other products.

Pharmabiz (http://www.pharmabiz.com/article/detnews.asp?articleid=26792§ionid=)