Torrent Pharmaceuticals has entered into an agreement with Unichem for acquiring its branded business of Nepal and India for Rs.3,600 crore.

Torrent will be funding the acquisition via a mix of internal accruals and bank borrowings. It is expected that the deal will close by the end of 2017.

With this acquisition, Torrent will increase its market share in terms of sale from 2.4% to 3.4%. Further, the deal will also provide Torrent access to 120 brands of Unichem in India and Nepal in addition to a manufacturing unit in Sikkim.

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