Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients
Torrent Pharma acquires Elder's branded business, consolidating the industry
8:53 AM MST | December 13, 2013 | Natasha Alperowicz
Torrent Pharmaceuticals (Mumbai) announced today that it has entered into a definitive binding agreement with Elder Pharmaceuticals (Mumbai) to acquire its branded domestic formulations business in India and Nepal for about 20 billion Indian rupees ($322 million). Elder's Indian business comprises a portfolio of 30 brands including market leading brands in the women's healthcare, pain management, wound care and nutraceuticals. All the Elder employees involved in the business will transfer to Torrent. Elder will continue to manufacture and supply the products at...
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