Sun Pharmaceuticals eyes German generic-drug maker Stada: report
03 Aug 2012
Sun Pharmaceuticals Industries Ltd, India's biggest drugmaker by market value, is planning acquisitions in Europe and might buy German generic-drug maker Stada Arzneimittel AG, Bloomberg yesterday reported, citing people familiar with the matter.
Sun Pharmaceuticals, which is in the midst of acquiring full control of Israeli dermatology company Taro Pharmaceutical Industries, is trying to raise $1 billion to fund an acquisition in Europe, and executives of the Mumbai-based company recently went to Europe for meetings with potential targets, the report said.
Stada, based in Bad Vilbel, Germany, specialises in generic and over-the-counter drugs.
The company does not conduct research on any new active pharmaceutical ingredients, but rather focuses on the development and marketing of products with active ingredients that are patent-free. These drugs are then commercially positioned in the two core segments of generics and branded products.
Generics formed 69 per cent of the company's 2011 sales of €1.72 billion, while branded products had share of 28 per cent.
The company has grown since 1986 through aggressive acquisitions made in Europe and Asia. Germany and Russia are its two biggest markets.
The Stada deal would give Sun Pharmaceuticals a foothold into several European countries, including Germany, France, the UK, Austria, Switzerland, Russia, the Netherlands, Denmark, Spain, Italy, Serbia and Portug.