Indian Pharma Cos are on a M&A spree..

Ranbaxy Closes Three Acquisitions In One Week

Ranbaxy Laboratories, India's largest pharma company, had last year announced raising of $1.5 billion in the form of GDR/FCCB/ADRs etc. The idea was to make some big ticket acquisition in the US or Europe. In February it lost out to Dr Reddy's Labs in acquiring Germany's Betapharm from UK private equity fund 3i for $570 million. But it seems Ranbaxy had an alternative plan. In the last one week, it made three foreign acquisitions. What are they? On March 27, Ranbaxy acquired the unbranded generic business of Allen S.p.A, a division of GlaxoSmithKline, in Italy, for an undisclosed amount. On March 29, it acquired the Romanian generic company Terapia for $324 million. On March 30, it announced the acquisition of a Belgian generic drugmaker, Ethimed NV, for an undisclosed amount. That's three acquisitions in one week. But there is more to come I am sure. And we are waiting for that big ticket acquisition of Ranbaxy