new delhi dabur pharma has announced the sale of its nononcology formulation business to alembic for rs 159 crore the annualised revenue of the division is rs 80 crore the move is in line with dabur pharmas strategy to focus on its core oncology business and exit other noncore businesses says a company statement the nononcology formulation business is mainly into high growth life style segments like cardiovascular diabetic and gastrointestinal gynaecology with brands including cycloset for the treatment of menorrhagia revas and atecard for cardiovascular disorders glisen for diabetes and ulgel antacid the transaction is likely to be completed in about two months time the business had net sales of rs 62 crore for nine months ended december 31 2006 and is expected to post sales of rs 80 crore for the full year over and above the consideration the transaction will involve an additional networking capital of rs 58 crorewhile the nononcology formulations have been a growing business for us this divestiture would allow us to increase our focus and investment in building a world class global oncology business which we believe offers greater longterm value for dabur pharmas shareholders said anand burman chairman dabur pharma chirayu amin cmd alembic ltd said alembic is augmenting its presence in the international as well as domestic pharma space this strategic acquisition is to enhance our domestic market share by entering prospective therapy segments alembic will aggressively pursue its strategic goals through organic and inorganic initiatives in the near futurethis acquisition will be funded through a combination of internal accruals and debt option of dilution of small equity is also not ruled out we will be leveraging the companys strong financial position for fuelling further growth said rk baheti director and president finance