Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients
Wockhardt Buys French Pharma Company for $265 Million
1:20 PM MDT | August 9, 2007 | Deepti Ramesh
Wockhardt Ltd. (Mumbai), a pharmaceutical and biotechnology company, has acquired Negma Laboratories (Paris), the fourth-largest pharmaceutical group in France, for $265 million. The acquisition, Wockhardt’s fifth in Europe, means that European sales will account for more than 60% of the company’s total. Negma, with annual sales of $150 million, has a portfolio of 172 patents, and a range of pharma products in various stages of development. “Negma is a unique acquisition for Wockhardt,” says Habil Khorakiwala, chairman of Wockhardt...
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