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September, 2006 Pragati Maidan, New Delhi, India |
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Indoco Remedies To Acquire European Cos
Once licensed, products to be manufactured in Goa unit.
Drug maker Indoco Remedies Ltd is in talks to acquire a European company for 5-10 million pounds ($9-18 million) in a year's time.
`We have spotted two targets in Europe, we are in initial talks with one company in UK and one in Germany,` Indoco's director of finance and operations, Sundeep Bambolkar, was quoted saying in a leading financial daily.
`They have product and/or marketing licenses but no manufacturing facilities,` he said declining to name either company.
Once Indoco secures the licenses, these products would be manufactured at its units in Goa, Bambolkar said.
Date: 04-Jul-2006
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