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Cadila scouting for acquisitions in in Spain
By siliconindia staff writer
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Monday, 19 April 2004, 19:30 IST
NEW DELHI : After lapping up Alpharma to make an entry into France , the Ahmedabad-based pharma major Zydus Cadila Healthcare is now surfing the Spanish market for an acquisition for its proposed entry into that market. The company is learnt to have initiated talks with some small-sized generic companies for the proposed acquisition.
Sources familiar with the developments said Zydus Cadila is currently holding negotiations directly with the companies and has not appointed any merchant banker for assisting it in the proposed acquisition.
When contacted, Zydus Cadila Healthcare CMD, Pankaj Patel, told ET that the company was currently weighing various options for making an entry into the Spanish market. We have made an in-principle decision on entering the Spanish market and are still in the process of finalising our entry model. The acquisition route is definitely one of the options we are looking at, he said.
Sources close to the company said Zydus is looking for a company with a reasonably big product basket so that it could start off its operations there straight away with some market share. On the other hand, if the company opts for setting up its subsidiary there, it will have to wait for almost a year before starting the operations, as its products will have to get regulatory approvals for marketing in that market.