STERLING BIOTECH TO BUY MFG FACILITY OF TORRENT GUJARAT BIOTECH

Sterling Biotech Limited, one of the world's largest manufacturers of Pharmaceutical Gelatin, has signed a Memorandum of Understanding (MoU) to purchase the manufacturing facility of Torrent Gujarat Biotech Ltd as an asset sale for Rs 55 crore in all cash deal. The plant of Torrent Gujarat Biotech Ltd is located at Masar, Dist. Baroda, Gujarat. The transaction is subject to both the parties receiving necessary approvals/consents under applicable laws, according to a company release.

PharmaBiz (http://www.pharmabiz.com/article/detnews.asp?articleid=29824ionid=)