IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

Glenmark Buys Czech Pharma Firm

12:25 PM MDT | July 26, 2007 | DR

Glenmark Pharmaceuticals Ltd.’s (Mumbai) subsidiary Glenmark Holdings (GHSA; La Chaux-de-Fonds, Switzerland) says it has acquired more than a 90% stake in Czech pharmaceutical company Medicamenta (Praha). Terms were not disclosed. Medicamenta’s 2007 projected revenue is $8 million, Glenmark says. Medicamenta has sales and marketing operations in the Czech Republic and Slovakia, and the deal gives Glenmark an entry point into those fast-growing regions, Glenmark says. The transaction is part of Glenmark’s long-term strategy to “emerge as a...

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