Sanofi sells Gu­jarat site to Ad­vent

The Times of India (New Delhi edition) - - Times Business - TIMES NEWS NET­WORK

Mum­bai: Sanofi In­dia sold its man­u­fac­tur­ing fa­cil­ity at An­klesh­war in Gu­jarat to Ad­vent In­ter­na­tional for Rs 262 crore. The board on Septem­ber 10 ap­proved the slump sale and trans­fer of its fa­cil­ity to Zen­tiva In­dia, part of Ad­vent, sub­ject to cus­tom­ary work­ing cap­i­tal ad­just­ments, ac­cord­ing to a com­pany state­ment.

In 2018, as part of a global trans­ac­tion, Zen­tiva, which was Sanofi’s Euro­pean gener­ics busi­ness, was sold to Ad­vent In­ter­na­tional. Fol­low­ing this, Zen­tiva con­tin­ued to source prod­ucts from Sanofi for its gener­ics busi­ness, pur­suant to a five-year sup­ply agree­ment that ex­pires in 2023.

The An­klesh­war site is Sanofi In­dia’s old­est man­u­fac­tur­ing fa­cil­ity where brands like Comb­i­flam, Al­le­gra and Amaryl are made, and over 6 bil­lion tablets are pro­duced an­nu­ally. The pro­duc­tion of these brands will now be moved to the com­pany’s Goa fa­cil­ity and ex­ter­nal man­u­fac­tur­ing sites as well. Sanofi In­dia’s scrip de­clined by over 4% to Rs 5,988 on the BSE on Wed­nes­day, re­act­ing to the com­pany’s po­ten­tial rev­enue loss.

Have mil­len­ni­als ac­tu­ally stopped buy­ing cars?

The age of ac­cess be­ing of­fered by taxi-hail­ing apps like Uber and

Ola is the big­gest po­ten­tial threat to auto in­dus­try. Since these apps op­er­a­tors have made trans­porta­tion a com­mod­ity, (auto) sales could be hit and vol­umes get im­pacted

— Anand Mahin­dra

A car was a status sym­bol when I started my ca­reer. But my son is more com­fort­able with Ola and Uber which is a clas­sic ex­am­ple of ca­pac­ity util­i­sa­tion

— Uday Ko­tak

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