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Our Bureau

Bangalore , Sept. 23

BAL Pharma Ltd has informed BSE that the board has decided not to sell the Pune unit as negotiations with the intended buyer were not fruitful.

Bal was negotiating a Rs 5-crore deal with Mumbai-based Sunways India. The two could not agree entirely on some terms but are exploring other arrangements, the Managing Director of Bal Pharma, Mr Shailesh Siroya, told Business Line.

Bal acquired the Pune unit, mainly having a portfolio of IV fluids and eye drops, some years ago.

With new orders flowing in recent months, Bal will continue the business focus for the Pune unit, which generated a revenue of Rs 7 crore last year, he said.

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