Published on Sat, Dec 09, 2006 at 12:10 | Source : Moneycontrol.com
Updated at Sat, Dec 09, 2006 at 12:29
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Pharma, biotech firms keen on European market
It's `Europe calling', for Indian pharma and biotech companies, especially from Hyderabad. In just about a year, half a dozen companies have either acquired companies, have forged license agreements or been acquired.
It's `Europe calling', for Indian pharma and biotech companies, especially from Hyderabad. In just about a year, half a dozen companies have either acquired companies, forged license agreements or been acquired.
The big ticket acquisition of Betapharm - Germany's fourth largest generic pharma company, by Dr Reddy's Laboratories in February for Rs 2,250 crore, seems to have set the ball rolling.
Biotechnology firms - Ocimum Biosolutions, Shantha Biotechnics and Bharat Biotech International Ltd - have also been in the spotlight.
The goal seems to be two-way for Indian companies - a foothold and expansion into the European markets, and for the European companies, a means of gaining access to the growing Indian and Asian markets.
