Wockhardt acquires German firm Esparma
By Our Corporate Bureau | 07 May 2004
Mumbai: Wockhardt Ltd has acquired a German pharma company called Esparma Gmbh for dollars11 million.
The acquisition does not include the company''s manufacturing facility but covers the businesses, sales and marketing organisation and the name of the company, said Habil Khorakiwala, chairman, Wockhardt.
Wockhardt will continue manufacturing at Esparma facilities, which have been sold to another buyer.
The toll manufacturing agreement is for a period of two years, after which Wockhardt will shift manufacturing to its other existing facilities in the UK and India, he said.
Wockhardt has set up a company called Wockhardt Germany, GmbH to facilitate the acquisition. The company will have 70 employees, most of them in sales, marketing and regulatory functions.