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India’s Biocon Buying U.S. Drug Distributor

This article was originally published in PharmAsia News

Executive Summary

India's Biocon is in the process of buying a U.S. pharmaceutical distributor for $400 million. The name of the U.S. firm was not disclosed, and Biocon is under Indian stock market rules that require silence on financial issues ahead of quarterly results announcements. The reports of a Biocon deal in the United States fit an earlier statement by the firm's CEO that it planned such an acquisition in both the United States and Europe. Biocon could fund the buyout in part with funds from a sale last year of its enzyme business. (Click here for more
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