Ipca Laboratories has decided to sell its entire shareholding in Bayshore Pharmaceuticals LLC, its wholly-owned step-down subsidiary, to Centaur Pharmaceuticals USA Inc for USD 400,000. Bayshore has not been actively conducting business since September 2024, after selling its generic formulations business. The sale aims to eliminate compliance costs associated with maintaining a non-operational entity. The transaction is subject to due diligence and approvals.
Divestment of Bayshore Pharmaceuticals
Ipca Laboratories is set to divest its entire stake in Bayshore Pharmaceuticals LLC, a US-based step-down subsidiary, to Centaur Pharmaceuticals USA Inc. The consideration for the sale is USD 400,000.
Background of Bayshore
Bayshore Pharmaceuticals previously engaged in the marketing and distribution of generic pharmaceuticals in the USA. However, in September 2024, Ipca Laboratories disclosed the sale of Bayshore’s business operations to Unichem Pharmaceuticals (USA) Inc., along with the sale of its product approvals to Unichem Laboratories Ltd. Following these transactions, Bayshore ceased active business operations and currently holds minimal assets, including share capital and a small bank balance (approximately USD 5,200).
Rationale for the Sale
The decision to sell Bayshore is driven by the need to eliminate the compliance costs associated with maintaining a non-operational entity. The sale to Centaur Pharmaceuticals USA Inc. is subject to necessary due diligence and approvals, and is expected to close within 30 days of signing the agreement. An agreement is expected around January 20, 2026.
Office Address Update
Ipca Laboratories also announced it is updating its registered office address to include the district detail on the MCA website. This change does not represent a change of address but is necessary for filing online Industrial Entrepreneur Memorandum applications with the Department for Promotion of Industry and Internal Trade.
Source: BSE
