Ipca Laboratories has received necessary approval for voluntary closure of its wholly owned subsidiary Ipca Pharmaceuticals SA de CV, Mexico. This wholly owned subsidiary incorporated in Mexico was not doing any business for the past several years. Voluntary closure of this wholly owned subsidiary will not have any impact on Company`s business or financials.Powered by Capital Market - Live News

Ipca Laboratories announced that the Board of Directors of the Company at its meeting held on 14 November 2024, has recommended a Interim dividend of Rs.2 per share (i.e.200%), subject to the approval of the shareholders.Powered by Capital Market - Live News

Net profit of Ipca Laboratories rose 58.20% to Rs 229.48 crore in the quarter ended September 2024 as against Rs 145.06 crore during the previous quarter ended September 2023. Sales rose 15.78% to Rs 2354.90 crore in the quarter ended September 2024 as against Rs 2033.96 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales2354.902033.96 16 OPM %18.7517.73 - PBDT445.18354.99 25 PBT344.83264.65 30 NP229.48145.06 58 Powered by Capital Market - Live News

Ipca Laboratories will hold a meeting of the Board of Directors of the Company on 14 November 2024.Powered by Capital Market - Live News

The Board of Ipca Laboratories at its meeting held on 30 September 2024 has approved entering into the following agreements by Bayshore Pharmaceuticals LLC, USA (Bayshore) (wholly-owned step down subsidiary) with Unichem Laboratories (Unichem India) (subsidiary company) and Unichem Pharmaceuticals (USA) Inc (Unichem USA) (wholly owned subsidiary of Unichem India), so as to integrate and consolidate all the Ipca Group`s USA generic formulations business under one entity: a) Sale of all rights, title and interest in the product approvals and all goodwill associated with nine (9) ANDAs owned by Bayshore for US Dollar Two Million Six Hundred Fifty Thousand ($2,650,000) through asset sale agreement subject to necessary consents/ approvals to Unichem India; and b) Sale of all generic formulations marketing / distribution business of Bayshore in the US market as a going concern through slump sale/transfer of entire business (debt free) and all goodwill associated with the business through business sale agreement for US Dollar Ten Millions ($10,000,000) to Unichem USA.Powered by Capital Market - Live News