Intas to buy Actavis from Teva for ₹4K cr

NEW DELHI: Ahmedabad-based drug-maker Intas Pharmaceuticals on Wednesday broke into the global top 20 generics players, with definitive agreements to acquire Actavis

NEW DELHI: Ahmedabad-based drug-maker Intas Pharmaceuticals on Wednesday broke into the global top 20 generics players, with definitive agreements to acquire Actavis UK and Actavis Ireland from Israeli pharma major Teva Pharmaceuticals.

HT Image

The all-cash deal has an enterprise value of approximately ₹4,000 crore.

Actavis UK and Ireland are leading suppliers of generic pharmaceuticals in the UK and Irish markets with selected assets and operations across the respective markets. The company focuses on providing high quality generic products to both pharmacies and wholesalers in the UK and Ireland, and has a strong employee base of over 600.

Intas used its European subsidiary Accord Healthcare as the vehicle for this acquisition. Last year Intas, which is closely held by the Chudgar family and has investments from Temasek and ChrysCapital, acquired the hospital products business of Spain’s Corporacion Combino Pharm SL through Accord Healthcare.

Binish Chudgar, vice-chairman and managing director, Intas, said, “This transaction represents a unique opportunity for Intas to build scale in the UK and Ireland, adding to our market leading hospital franchise, and creates a strong platform for further European expansion.”