Zydus Cadila buys Spain's Laboratories Combix
Drug maker Zydus Cadila on Friday announced its foray into Spain, the fifth largest pharmaceutical market in the world.
By PTI |
MUMBAI: Drug maker Zydus Cadila on Friday announced its foray into Spain, the fifth largest pharmaceutical market in the world, through the acquisition of Laboratories Combix for an undisclosed amount.
���This acquisition offers us an opportunity to consolidate our presence as a generics company and global healthcare provider. The Spanish generics market is forecast to grow rapidly during the coming years and we are pleased to participate in this growth,��� Zydus Cadila CMD Pankaj R Patel said.
The acquisition would facilitate Zydus to enter into the generics market that is estimated at $1.7 billion and is growing at 21.5%, compared to 6% for overall pharmaceutical market in 2007, the company said in a filing to BSE.
Combix with a portfolio of 17 molecules, allows Zydus to start its business and leverage strength in product development and cost-competitive supply chain.
An entry into Spain forms a critical part of Zydus���s European strategy after foraying into the French generics market in 2003. With operations in the US, Europe, Japan, Latin America, Asia Pacific and Africa, the group���s formulations exports grew by 72% in 2007-08, the company added.
���This acquisition offers us an opportunity to consolidate our presence as a generics company and global healthcare provider. The Spanish generics market is forecast to grow rapidly during the coming years and we are pleased to participate in this growth,��� Zydus Cadila CMD Pankaj R Patel said.
The acquisition would facilitate Zydus to enter into the generics market that is estimated at $1.7 billion and is growing at 21.5%, compared to 6% for overall pharmaceutical market in 2007, the company said in a filing to BSE.
Combix with a portfolio of 17 molecules, allows Zydus to start its business and leverage strength in product development and cost-competitive supply chain.
An entry into Spain forms a critical part of Zydus���s European strategy after foraying into the French generics market in 2003. With operations in the US, Europe, Japan, Latin America, Asia Pacific and Africa, the group���s formulations exports grew by 72% in 2007-08, the company added.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
