Pharma major Sanofi India has decided to sell its facility in Ankleshwar, Gujarat to Zentiva India.
The board of directors of Sanofi India Ltd. (SIL) has approved a transaction for slump sale and transfer of its manufacturing facility at Ankleshwar, Gujarat to Zentiva and its legal entity in India, Zentiva Private Ltd., for ₹261.7 crore, the company said in a statement.
In 2018, Zentiva, which was Sanofi’s European generics business, was sold to Advent International as part of a global transaction.
The Ankleshwar site is Sanofi’s oldest manufacturing facility in India.