Glenmark’s acquires 7 products from PD Pharma

MUMBAI: Bouwer-Bartlett, the South African subsidiary of Glenmark Pharmaceuticals, has acquired seven products from PD Pharmaceuticals for an undisclosed amount. The brands are expected to garner collective sales of $2-3m in FY07.

The acquired basket comprises anti-diarrhoeal, anti-inflammatory, analgesic, expectorant, anti-protozoal, anti-acid and multi-vitamin products. Bouwer-Bartlett has obtained global intellectual property rights for the products and will initially market the products within South Africa and will subsequently market them in other geographies.

“Our purchase of the seven products from PD Pharma follows our acquisition of Bouwer-Bartlett, a sales and marketing company in South Africa last year. This move supports our strategy of emerging as a speciality and brand company marketing novel drugs in the African continent. Glenmark is already present in over 30 of the 54 markets in Africa and this pipeline will help strengthen our presence in the region,” said Glenn Saldanha, managing director & CEO, Glenmark Pharmaceuticals, in a statement.

South Africa is one of the largest and fastest growing pharmaceutical markets in the continent of Africa and Glenmark has established a subsidiary in the country. The company also has a subsidiary in Nigeria and representative offices in Ghana and Kenya.

Glenmark acquired Bouwer-Bartlett in December ’05 and added the sales and marketing entity’s 22 products to its product basket. Glenmark expects to earn revenues of about $5-6m from the South African market in this fiscal.

The company hopes to file additional generics and add to the pipeline of generic products in South Africa. To this end, the company has received cGMP approval from the Medicine Control Council, South Africa, for its solid dosage formulations plant in Goa last year. Glenmark’s shares rose 7.27% to Rs 255.85 on Friday.