Teva To Invest Billion In India Acquisitions, New Facility
This article was originally published in PharmAsia News
Teva Pharmaceutical Industries of Israel says it plans to spend more than $1 billion in India, about three-fourths of the amount in buying Indian drug makers. The company said it expects to spend $250 million to $300 million on building manufacturing facilities in India, mainly for active pharmaceutical ingredient work. Teva already is the world's largest producer of generic drugs and launched Teva India as its India-based research and development center two years ago. Teva is reported to have been eyeing a major acquisition in India for several years, and possible targets include Aurobindo, Cipla, Matrix, Orchid and Saraca Laboratories. (Click here for more
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LUCKNOW, UTTAR PRADESH, INDIA - Israeli pharmaceutical company Teva Pharmaceutical will invest more than $1 billion in India over the next two years to establish greenfield manufacturing facilities and acquire Indian drug companies, said a Jan. 10 report in the local newspaper Business Standard.
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