LKS advises Indoco Remedies on ₹110 crore ophthalmic business transfer to Sunways

Indoco Remedies Limited has entered into a slump sale agreement, transferring its ophthalmic business as a going concern to Sunways (India) Private Limited for ₹110 crore.

Lakshmikumaran & Sridharan Attorneys advised Indoco Remedies on this transaction. The Firm's role encompassed end-to-end legal and transactional support, including advising on LODR Regulations, GST implications, structuring, drafting and negotiation of transaction documents, and providing assistance at deal closing. The team also guided Indoco through the transfer mechanics for diverse classes of assets, including intellectual property, inventories, and market authorisations across multiple jurisdictions.

The transaction was led by Asish Philip (Executive Partner) and Gopal Machiraju (Partner), with support from Bhusan Porwal (Principal Associate) and Kinnari Solanki (Associate).

Darshan Machchhar (Associate Partner) and Krina Shah (Senior Associate) advised on GST law aspects.

This strategic divestment allows Indoco Remedies to refocus its core operations while enabling Sunways to expand its presence in the ophthalmic space, leveraging established distribution networks and regulatory authorisations across key emerging markets in Africa and India.

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