We hereby inform that as approved by the Board of Directors as well as shareholders of the Company and PBPL the asset purchase agreement has been executed on February 28 2022 for sale of pharmaceutical formulation brands of PBPL in India and Nepal and transfer of well-trained sales & marketing team engaged in domestic pharmaceutical business of PBPL to Mankind Pharma for an aggregate consideration of INR 1 872 Crore plus GST. PBPL has also executed other definitive agreements including Intellectual Property Assignment Agreement Patent License Agreement Manufacturing & Supply Agreement and Transition Services Agreement. In this regard as per Circular Number CIR/CFD/CMD/4/2015 dated September 09 2015 please find the requisite details in the attached Annexure - 1. This is for your information and record please. Kindly acknowledge the receipt.
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