Ipca Laboratories sells unit, expands European footprint

Ipca Laboratories (BSE: IPCALAB) has announced a series of strategic moves aimed at optimizing its operations and expanding its reach in the European market. The company's board of directors approved the slump sale of its formulations manufacturing facility located in Tarapur, India, to V. S. International Pvt. Ltd. for INR 36.90 crores. This decision aligns with Ipca's strategy to reduce the number of manufacturing units and minimize operational costs by consolidating production into other existing facilities, with the sale expected to be completed by June 30, 2025.