Natco Pharma completes acquisition of Newark Drugs
Natco Pharma has reported the completion of purchase of assets of Newark Drugs, a retail pharmacy store based in Newark, New Jersey, US.
By INDIATIMES NEWS NETWORK |
MUMBAI: Natco Pharma has reported the completion of purchase of assets of Newark Drugs, a retail pharmacy store based in Newark, New Jersey, US.
Network Drugs was acquired by K&C Pharmacy, a US based general partnership firm, in which Natco holds 75 per cent stake. Newark Drugs reports $5 million in annual sales.
Through this acquisition Natco's revenues from US retail aggregates was $35 million in a full year. The company has plans to acquire a few more stores to strengthen its presence in US retail markets.
At 12:16 pm, Natco Pharma shares were down 1.52 per cent at Rs 116.50 on BSE.
Network Drugs was acquired by K&C Pharmacy, a US based general partnership firm, in which Natco holds 75 per cent stake. Newark Drugs reports $5 million in annual sales.
Through this acquisition Natco's revenues from US retail aggregates was $35 million in a full year. The company has plans to acquire a few more stores to strengthen its presence in US retail markets.
At 12:16 pm, Natco Pharma shares were down 1.52 per cent at Rs 116.50 on BSE.
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