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Cadila Healthcare share price falls on sale of two brands

Purchaser is a part of the portfolio companies of PE firm True North and said the transaction is not a related party transaction.

September 21, 2021 / 11:46 AM IST
 
 
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Cadila Healthcare share price fell in early trade on September 21 after the company said it is going to sell its two brands - Mifegest and Cytolog.

"Zydus Healthcare Limited, a wholly-owned subsidiary of Cadila Healthcare has entered into an agreement with Integrace Private Limited (purchaser) to sell two brands viz. Mifegest and Cytolog," as per the press release.

The transaction is expected to complete within 30 days from the date of execution of the agreement subject to customary approvals.

Purchaser is a part of the portfolio companies of PE firm True North and said the transaction is not a related party transaction.

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At 09:23 hrs, Cadila Healthcare was quoting at Rs 541.85, down Rs 4.50, or 0.82 percent on the BSE.

The share touched a 52-week high of Rs 673.70 and a 52-week low of Rs 373.95 on 12 May 2021 and 24 September 2020, respectively.

Currently, it is trading 19.57 percent below its 52-week high and 44.9 percent above its 52-week low.
Moneycontrol News
first published: Sep 21, 2021 09:35 am

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