Ipca Labs looks to acquire pharma unit in Indonesia

Ipca Laboratories is looking at acquiring a pharmaceutical company in Indonesia, as the Indian pharma major expands its Southeast Asia operations.

Ipca Laboratories, one of the largest manufacturers of active pharmaceutical ingredients (APIs) in the country, said it is looking to acquire a company with licence to market generic drugs in the region. The company has earmarked $20 million for overseas acquisitions.

"We are scouting for an Indonesian company, especially with a generic product marketing licence," S Sugumaran, regional manager of Ipca Laboratories, said in Singapore today.

Sugumaran was speaking to reporters on the sidelines of a seminar on the Indian pharmaceutical sector, which was attended by representatives of several pharmaceutical companies as also government officials, including the deputy drug controller of India, A K Pradhan.

Representatives of Singapore's Economic Development Board and the Health Sciences Authority also addressed the seminar.

Sugumaran said Ipca Laboratories has shortlisted a number of companies and that he expected the acquisition to be finalised within the next few months. Sugumaran, however, did not name the companies identified. Nor did he reveal the estimated cost of acquisition.