TTK Healthcare will be selling the human pharma division for Rs 805 crore to Bharat Serums and Vaccines. TT Jagannathan, Chairman of TTK Healthcare discussed this and more in an interview with CNBC-TV18.
“We have not got any new molecule and it is difficult to find collaboration to get new molecules in the pharmaceutical business. So we decided to exit it,” he said.
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“Thought the pharmaceutical business is profitable, we believe that our core competency is in consumer products and if we invest this money there, we will get much better returns,” he added.
The company will be left with Rs 400 crore out of Rs 805 crore, which it plans to deploy in the consumer products business, he said.
For the full interview, watch the accompanying video.
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