The transaction is expected to be completed within 30 days from the date of execution of agreement subject to customary approvals. The purchaser is a part of the portfolio companies of private equity (PE) firm, True North.
Mifegest is an anti-progestational steroid class of drug used for medical termination of pregnancy while Cytolog tablet is a medicine used for medical abortion.
On a consolidated basis, the drug major posted a 35.2% rise in net profit to Rs 635.50 crore on 14.4% rise in net sales to Rs 3,917.40 crore in Q1 FY22 over Q1 FY21.
Shares of Cadila Healthcare lost 0.43% to Rs 544 on BSE. Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures, and markets a broad range of healthcare therapies.
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