Financial details were not disclosed as well as reasons for sale of the assets
Natco Pharma’s board has approved to sell its ‘Save Mart Pharmacy Stores’ a non-core business of the company, in the US. The stores are owned by Natco Pharma, a wholly-owned subsidiary of the company. The company, however, did not disclose financial details as well as reasons for the sale of the assets.
Natco Pharma was incorporated in Hyderabad in the year 1981 with an initial investment of Rs 33 lakh. With a modest beginning of operations as a single unit with 20 employees, Natco today has five manufacturing facilities spread across India with dedicated modern research laboratories, capabilities in new drug development.
The company currently employs more than 3,200 employees.