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JK Ind sells bulk drug unit

Our Bureau

New Delhi , Aug. 5

J.K. Industries Ltd (JKI) on Tuesday said that the company has exited from the bulk drug business by selling its wholly-owned subsidiary — J.K. Drugs and Pharmaceuticals Ltd to TEVA Pharmaceuticals of Israel.

JKI officials declined to disclose the details of the deal.

A statement issued by the company, however, said that the "divestment of the pharma business by J.K. Industries is part of a strategy to strengthen and focus on our core areas — tyre and agri-business".

JKI is already in the process of hiving off its sugar and agri-businesses to independent entities.

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