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.
UltraTech Cement Ltd. which was trying to buy the cements business from Jaiprakash Associates Ltd in a $2.3 billion deal, has met some road blocks as the debt ridden Jaypee Group has been unable to meet certain financial commitments including clearing statutory dues and providing working capital for the plants under review.