Home FEATURED NEWS India’s Ipca Laboratories sinks to 3-yr low after Unichem Lab deal

India’s Ipca Laboratories sinks to 3-yr low after Unichem Lab deal

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BENGALURU, April 25 (Reuters) – Shares of Indian pharmaceutical agency Ipca Laboratories (IPCA.NS) fell as a lot as 9.1% to a close to three-year low on Tuesday, after it agreed to purchase a 33.38% stake in Unichem Laboratories (UNLB.NS) for as much as 10.34 billion rupees ($126.3 million).

($1 = 81.8700 Indian rupees)

Reporting by Ashish Chandra in Bengaluru; Editing by Sonia Cheema

Our Standards: The Thomson Reuters Trust Principles.

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