Cipla To Acquire Formulation Firm Meditab For Rs 133 Cr
Cipla, a bulk drug and formulation manufacturer acquires Meditab Specialities Private Limited, a formulation manufacturing company for Rs. 133 Cr.
Cipla’s acquisition will result in operational and cost efficiencies for the company. It will help to expand its API / intermediates international business through the Meditab's manufacturing facility in China. Meditab will help Cipla to leverage additional business opportunity in Africa through its manufacturing facility in Uganda.
Transaction Reference: Myiris
Meditab manufactures products covering the entire range of therapeutic categories like Anti-HIV, Anti-cancer, Anti-asthma, Anti-biotics, Anti-TB, Anti-fungals, Anti-malarials, Anti-psychotics, Anti-Cardiovascular, Cholesterol reducers, Anti-diabetic, Anti-allergic, Hormone-related drugs etc.
It has manufacturing facilities at multiple location and exports its products to countries like Brazil, Chile, Argentina, Dominican Republic, Nicaragua, Malaysia, Rwanda, Thailand, Philippines, Turkey, Nigeria, Malawi,Vietnam etc. It specializes in API, formulations, cosmetics, medical devices, medical equipments, etc. Relatives of the promoters are the major shareholders of the company.
The aggregate consideration for this acquisition was determined on the basis of the valuation report provided by Grant Thornton and fairness opinion provided by Kotak Mahindra Capital Company Ltd.
This year in March, Cipla sold i-pill brand to Piramal Healthcare for Rs.95 Cr. It acquired stake in two biotech companies in june for $ 65 Mn in a phased manner over a period of 3 years, which includes one Indian and one Hong Kong based biotech company.
Recently in pharma space, Suven Life Sciences plans to raise $ 20mn from PE for its molecular research in this month;earlier this month, Baring PE invests $ 17 mn in Shilpa Medicare,Primex Healthcare has raised Rs.5.1 Cr from Kalpathi Investments by diluting 45% stake.
| Readers' Comments | Post a Comment >> |
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 25/08/10 | Meditab Specialities - Cipla | M&A | Cipla Limited | 28.20 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 07/02/12 | M&A | Daiichi Sankyo | Looking For | - | Planned |
| 02/02/12 | M&A | Aanjaneya Lifecare Limited | Apex Drugs And Intermediates Limited | 51.05 | Completed |
| 25/01/12 | M&A | Jubilant Life Sciences Limited | Vanthys Pharmaceuticals Development Private Limited | - | Planned |
| 24/01/12 | M&A | Watson Pharmaceuticals Inc | Ascent Pharmahealth Limited | 395.61 | Completed |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Cipla Limited | Y K Hamied & Group | Cipla Ltd, Mumbai Central, Mumbai-400008. |
Aurobindo Pharma Limited Parenteral Drugs India Limited Strides Arcolab Limited Elder Pharmaceuticals Limited Novartis India Limited Pfizer Limited Speciality Molecules Private Limited Globela Pharma Private Limited |
www.cipla.com |
| Meditab Specialities Private Limited | 12 Gunbow Street, Fort, Mumbai - 400001 Maharashtra | |||
 |
Grant Thornton |
| Dealforwards |  |
| Feb 6, 2012... | Unitus Seed Fund Invests In Bodhicrew Services, Hippocampus Learning, Milaap Social |
|
| Feb 6, 2012... | Kotak Realty Fund Invests R80Cr In Orris Infrastructure |
|
| Feb 3, 2012... | Goldman Sachs Invests R22Cr In Aban Offshore |
|
| Feb 6, 2012... | VRL Logistics To Sell Power And Cement Biz |
|
| Feb 3, 2012... | Emerging Markets Invests R14.6Cr In Sintex Industries |
|
Editorial
India A Bright Spot For Otherwise Insolvent CalPERS
I heard that Calfornia Pension is going to default and I started wondering what could be India's contribution to that.
