A big pharma deal for IndiaBy
Further confirmation that India is becoming a key player in the global pharmaceutical industry: American generic drugmaker Mylan Laboratories today announced a deal worth up to $736 million to acquire control of an Indian company called Matrix Laboratories. The deal comes at the same time that Indian drugmakers like Ranbaxy and Dr. Reddy’s are expanding globally, acquiring companies in the West. And foreign companies are moving to India. For instance, Mylan rival Teva, the Israeli company that is the world’s No. 1 maker of generics, acquired an Indian drugmaker in 2003 and has hired a former Ranbaxy exec as an advisor. Sandoz, the generics division of Novartis, has over 1,000 employees in India working in R&D and manufacturing.
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