Adcock Ingram Pharmaceuticals
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Private equity firms partnering with senior management professionals bitten by the entrepreneurial bug to buy pharmaceutical businesses in India were some of the emerging trends highlighted by experts at a recent CPhI congress in Mumbai. Scrip covers the key conference highlights on the "maturing" Indian M&A market, including how foreign firms are shedding their older portfolios to reallocate resources to newer products.
Japan's Meiji group has acquired the Indian contract development and manufacturing firm Medreich for $290m catapulting its plans to develop a competitive play in the generics business and expand in Asia and other emerging markets.
MedImmune and Bristol announce immuno-oncology combination trials with new partners on the same day, while AC Immune and Piramal Imaging will collaborate to develop an Alzheimer’s diagnostic to trace abnormal Tau protein in neuronal tissue.
Abbott Laboratories has agreed to acquire the Chilean branded generics company CFR Pharmaceuticals for around $2.9bn. CFR's share price shot up 46% to CLP181.50 ($0.33) on the Santiago stock exchange in reaction to the news, which comes three months after CFR's own $1.3bn bid to buy the South African firm Adcock Ingram fell through in the face of local and shareholder opposition.
- Generic Drugs