INDIA BUSINESS WORLD - FEBRUARY 2007
The Month that was ...
DABUR PHARMA SELLS NON-ONCOLOGY BIZ TO ALEMBIC
Dabur Pharma said it is making an exit from the non-oncology business and is selling it off to Alembic for a consideration of Rs 159 crore.
"The reason to exit from the non-oncology business is our decision to focus on the cancer segment, which is a growing business for us," Dabur Pharma COO Ajay K Vij said. He said the company, despite achieving healthy growth in the non-oncology segment, has decided to focus on cancer treatment.
Mr Vij said the transaction will involve an additional networking capital of Rs 5-8 crore over the consideration of Rs 159 crore.
The transaction is likely to be completed by the first quarter of the next fiscal, he added.
Alembic will acquire more than 20 brands in Dabur Pharma's non-oncology segment, including those in gynaecology and cardiovascular segments.
"We will now intensify our approach to grow the oncology segment and will actively pursue acquisitions in the growth markets, including the US," Mr Vij said.
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