Glenmark buys 7 pharma brands in Poland

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New Delhi, Jul 2: Drug maker Glenmark Pharmaceuticals Ltd on Wednesday, July 2, said its susidiary has acquired seven drug brands in Poland.

Its subsidiary Medicamenta has signed the agreements with Actavis, the international generic pharmaceutical company from Iceland and Biovena (an affilliate of Actavis in Poland) to acquire seven pharma brands in Poland with effect from July 1, 2008, the company said in a statement.

However, the company did not disclose any financial details of the transaction, it added.

The acquisition will provide Glenmark its first access to the growing Polish market, the largest pharmaceutical market in Central and East Europe.

UNI

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