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Elder Pharma takes 51% in Biomeda (India)

This article was originally published in PharmAsia News

Executive Summary

Elder Pharmaceuticals has purchased a 51 percent-stake in Bulgaria's Biomeda Group for 5 million euros in an all-cash deal. Biomeda is among Bulgaria's Top 10 oral dosage formulation manufacturer and distributor. "Biomeda, is a unique acquisition of Elder and it will provide us the right entry vehicle to enter the Bulgarian market, leveraging Elder's robust EU product portfolio and impressive pipeline," Elder Pharmaceuticals director (international) Alok Saxena said in a statement. The acquisition will provide Elder access to key markets of Europe, Saxena said, and is part of Elder's move to have a foothold in major regulated global markets with specific focus on Europe, Asia-Pacific, and Latin America. (Click here for more



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