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September, 2006 Pragati Maidan, New Delhi, India |
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Generic giant Teva eyes `big` Indian acquisition
Teva, the Israeli Pharma major and till recently the No1 generic player in the world, is known to be on the prowl for an Indian acquisition. The company is rumored to be eyeing “something really big” and some of the domestic pharma majors are set on its radar.
The company’s aquistion plans come in the wake of Novartis’ buy out of German generic major Hexal and its US counterpart Eon Labs in $8.3bn late in February. The takeover has won Novartis the first slot pushing Teva to No.2. The proposed acquisition thus becomes a part of Teva’s aggressive strategy to gain the top slot again.
Date: 18-Mar-2005
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