Gujarat-based Cadila Pharmaceuticals is close to buying an European company that specialises in neurology and opthalmology medicines. The deal, said to be valued at $80 milllion (about Rs 320 crore), will be announced soon.
A Cadila executive said that the acquisition would enhance the company’s marketing capabilities in Europe. This will be Cadila’s second overseas facility. Last month, the company had invested $15 million (about Rs 60 crore) to set up a joint venture facility in Ethiopia.
As a part of its agressive growth plans, Cadila will develop a state-of-the-art medicine production facility at its pharma special economic zone (SEZ) coming up near Ahmedabad.
Read more in The Business Standard article.
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