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Gulf Oil acquires drug unit

MUMBAI, JUNE 8. Gulf Oil Corporation has informed the Bombay Stock Exchange that the company has acquired the manufacturing facility of a bulk drug unit at Hyderabad under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, which had been lying closed since 1996. The work involving renovation and upgradation to cGMP standards is underway and manufacturing operations are planned to be started in phases from the end of the second quarter of the current year.

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