Abbott Laboratories (ABT) recently spent $3.7 billion to buy Healthcare Solutions, a unit of India's Piramal Healthcare - a maker of popular generic medicines in emerging markets.
The deal calls for $2.1 billion upfront, followed by annual $400 million payments for the next four years.
This is a strategic move that should make Abbott stock even more attractive.
The combination of Healthcare Solutions and Abbott's existing India businesses has now positioned it as the leader (with 7% market share) in India's pharmaceutical business - which is the second largest market in the world, and one of the fastest growing.
India's pharmaceutical market has a size of 1.1 billion people, and has $8 billion in annual sales - which analysts expect to double by 2015.
Tuesday, 1 June 2010
Strategic Purchase By Abbott Laboratories Will Make It Largest Prescription Drug Seller In India
Posted on 15:16 by Unknown
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment