Indian Pharm Acquistions - Cadila, Stride Acrolab
Thursday, April 19, 2007Cadila Healthcare has acquired Japan's Nippon Universal. The Japanese acquisition will provide critical access to a ready manufacturing and marketing base as well as a strong distribution reach. The Japanese generics market, valued at $3 billion, has tremendous growth potential as it currently stands at just 5% of the total pharma market in the east Asian country in value terms, and 17% by volume, Cadila informed. The Indian drug maker said it will be looking at leveraging upon Nippon's strong relationship with key wholesalers, which spans over three decades.
The present takeover marks Cadila's second overseas acquisition, the first being Alpharma France in 2003. Cadila Healthcare had recently acquired Mumbai-based Liva Healthcare, a mid-sized Indian pharma company with a dermatology-focused product portfolio.
Strides Arcolab has decided to invest Rs 100 crore for acquiring Grandix Pharmaceuticals and will hold an EGM to seek shareholder approval. It is also alloting 56 lakh convertible warrants to promoters on preferential basis.
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