Adcock Ingram Healthcare Private Limited has acquired certain assets of Goa based Cosme Farma Laboratories for R70.8Cr to expand its operations in India.
The acquisition of Cosme Farma would provide Adcock Ingram to enter highly fragmented and competitive market with its own brand of products and capabilities.
Incorporated in 1910 by Cosme Matias Menezes as a drug store, Cosme Farma is in the medical devices, consumer plaster, logistics, distribution, retail and infrastructure business and operates through a number of wholly owned or joint venture companies, with reputed multinational partners such as Beiersdorf AG and BSN Medical. Cosme has distribution capabilities in 27 states in India and has a portfolio of products in several therapeutic classes, key being gynaecology, gastrointestinal, dermatology and orthopaedic.
Goa based Vedanta Limited, is going to acquire up to 5.33% stake in oil and gas exploration company Cairn India for over R2,200 Cr . It will acquire 100 Mn shares from Twin Star Mauritius Holdings on June 3, 2015 or within a period of 90 days at R220.40 per share.