INDIA BUSINESS WORLD - MAY 11th - MAY 31st - 2008
ZYDUS CADILA BUYS SPAIN’S LABORATORIES COMBIX
AHMEDABAD-Based pharma major Zydus Cadila has acquired 100% stake in Spanish pharma company Laboratorios Combix for an undisclosed sum. The $1.7-billion Spanish pharma market is the fifth-largest market in Europe and Laboratorios Combix has major focus in generics segment. The acquisition would allow the Rs 2,300-crore Zydus to leverage its strength in product development, quality, cost-competitive supply chain and operational efficiency.
Combix, established in 2006, has a portfolio covering 17 molecules. Zydus believes that with the acquisition would provide a conducive business environment for its foray into the Spanish market. Spanish pharma market is growing at a rate of 21.5% compared to 6% for the overall pharmaceutical market in 2007.
“Earlier, we had shown our keen interest in the Spanish market and this acquisition offers us an opportunity to consolidate our presence as a robust generics company”, said Zydus Cadila CMD Pankaj Patel. According to him, the Spanish generic market is expected to grow rapidly during the coming years and the company is keen to participate in this growing market. The company has been expanding its global operations through strategic acquisitions. It entered French generics market in 2003, and bought Nippon Universal Pharmaceuticals of Japan in 2007.
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