Government okays Skymap Pharmaceuticals' Rs 121-cr bid to buy IMPCL

The government has approved the sale of Indian Medicines Pharmaceutical Corporation Ltd. Skymap Pharmaceuticals Pvt Ltd will acquire the company for over Rs 121 crore. This strategic sale involves 100 percent stake and management control. IMPCL manufactures Ayurvedic and Unani medicines. The approval followed a competitive bidding process. The transaction is now being finalized.