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Bilcare has acquired Singapore-based Singular ID for 20 million Singapore dollars, reports CNBC-TV18. The latter provides pharma counterfeit solutions. Speaking to CNBC-TV18, Mohan Bhandari, CMD, Bilcare said that this acquisition is very critical for the company and it is a great synergy.
Bilcare has been looking at advancing its technology, in terms of solutions for counterfeit drugs. Now, it has gone ahead and acquired a Singapore-based company called Singular ID. They had been looking at this particular company for sometime.
Singular ID is a very high technology company, which uses nanotechnology, in terms of developing solutions to minimize the use of counterfeit drugs, which is seen as a big menace for most of the pharmaceutical companies.
In India itself, counterfeit drugs account for a about a billion of turnover. So, that technology, when applied, would probably mean a lot of difference to Bilcare as well as for Indian pharmaceutical companies.
This technology is an end-to-end use technology. So, probably this particular acquisition will mean a lot for Bilcare, in terms of advance in technology and reaching out to the global market also.
Speaking to CNBC-TV18, Mohan Bhandari , CMD, Bilcare said that this acquisition is very critical for the company and it is a great synergy. They have funded the acquisition through their own resources. They have acquired four patents and the entire company.
Excerpts from CNBC-TV18’s exclusive interview with Mohan Bhandari:
Q: What sort of synergies does this acquisition bring on to the table? How are you funding this USD 20 million acquisition?
A: Basically, Bilcare is into pharma solutions. So, this acquisition, which is a technology developed by this company, is very critical for Bilcare. This is a great synergy, in offering our entire global market place, in chemical supplies as well as packaging solutions.
Q: How did you undertake the funding of this acquisition?
A: This acquisition is hardly USD 20 million Singapore dollars and we have funded it through our own resources.
Q: Could you share the financials of Singular ID and what have they done in terms of sales and profits?
A: Basically, this is a technology start up company and they are more into technology development. So, there is no big financials around them. But the patent is very vital. So, we have acquired the patent in USD 20 million.
Q: You have acquired a patent in USD 20 million?
A: Yes, they have four patents and the company. We have acquired a complete company.
Q: How will Counterfeit Solutions contribute to your total revenue, going forward, since you said it is an important trigger for your company’s growth?
A: Counterfeit is a very big space for the pharma world and the opportunity in this space is USD 50 billion. Out of the entire USD 600 billion, USD 50 billion is the challenge of Counterfeit. I am sure that Bilcare would like it, because this is one of the most innovative and first-of-its-kind solution, which we wish to offer to this market.
It is not clear what kind of revenue we can generate through this solution. But the space is very large.
May 21 2013, 13:56
- in Results Boardroom
May 21 2013, 11:05
- in MARKET OUTLOOK