Dishman earmarks $50 mn for buys in US, Europe

NEW DELHI: Drug firm Dishman Pharmaceutical and Chemicals on Friday said it has earmarked an amount of $50 million to acquire US and European companies operating in the Contract Research and Manufacturing Services (CRAMS) segment.

The company is presently studying various proposals for possible acquisitions in the US and European markets. “Our acquisition budget is nearly $50 million and are looking at various firms operating in the CRAMS area in Europe while biotech firms in the US,” Dishman managing director JR Vyas told reporters on the sidelines of a CII Life Sciences conference. The company has appointed research firm Mckinsey as M&A advisors, he said, without divulging any further details.