Mumbai:Alkem Laboratories Limitedhas announced that the Company has entered into a Business Transfer Agreement with its wholly-owned subsidiary, Alkem Wellness Limited. The agreement, formalised, will facilitate the transfer of Alkem Laboratories' trade generics business as a going concern to Alkem Wellness. This move, which was first intimated to the Stock Exchanges on December 10, 2024, is being executed on a slump sale basis. As per the terms of the agreement, the transfer will take effect on October 1, 2025. The rationale for slump sale is to achieve agility, better focus and growth of trade generics business, to increase business by penetrating underserved markets, to increase focus on the trade generic business since the trade generics are poised for higher growth given the need for accessibility, availability and affordability of medicines. Alkem Laboratories Ltd is an Indian pharmaceutical company engaged in the development, manufacture, and sale of pharmaceutical and nutraceutical products. The company produces branded generics, generic drugs, active pharmaceutical ingredients (APIs) and nutraceuticals in acute and chronic therapeutic areas, such as anti-infective, pain and analgesics, vitamins/minerals/nutrients, cardiac and Diabetology, Gynecology, Ophthalmology, neuro/central nervous system, dermatology, anti-diabetes, anti-osteoporosis, cardiovascular, and muscle relaxants, which are marketed in Indian and International markets. It operates through the pharmaceutical business segment. Read also:Alkem Labs Senior Management Personnel Amit Ghare steps down