Unichem Laboratories, on Friday, said its board has approved the sale of its new formulation facility in Madhya Pradesh along with all its assets to Mylan Laboratories for Rs.160.50 crore.

The board has approved the sale of its new formulation manufacturing unit in Dhar district in Madhya Pradesh along with all assets on a slump sale basis to Mylan Laboratories for a total consideration of Rs.160.50 crore, Unichem Laboratories said in a filing to the Bombay Stock Exxchange.

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