Processing .....please wait.. 
The article has been forwarded.... 
Panacea Biotec eyes acquisitions in US, Europe
By siliconindia
|
Friday, 09 November 2007, 20:30 IST
Mumbai: Panacea Biotec, India based maker of the polio vaccine, may make its first acquisitions outside India to help distribute products in the US and Germany.
Panacea is preparing to sell as many as 18 vaccines and drugs in the US and the five biggest European drugmarkets by 2011.
It is also considering tie-ups with foreign partners for those markets, Rajesh Jain, joint managing director of New Delhi-based company, reported Business Standard.
"We are looking at something that can accelerate our product introduction and give us more penetration in the markets," said Jain. The sales network "is very important because our products will be branded and need promotion at the physician level."
Indian drugmakers, including Dr Reddy's Laboratories and Ranbaxy Laboratories, the country's biggest, are seeking acquisitions in the US and Europe to gain products and readymade sales teams.
The US and Europe's five biggest drug markets of Germany, France, the UK, Italy and Spain had retail pharmaceutical sales of $306.3 billion in the 12 months to July, according to research company IMS Health.
Acquisitions may not be that easy because of the number of competitors vying for one company.
"If the acquisition comes at the right price, it is good," said Awadhesh Garg, an analyst with Kotak Securities in Mumbai, who has a "buy" rating on Panacea's stock. "Nowadays, acquisitions do not come cheap."