New Delhi, Aug 12 (UNI) German pharma major Fresenius Kabi A G today said it will invest 30 million euros over the next three years in Dabur Pharma Ltd to fuel its expansion plans.
''We will be investing at about 30 million euros in the next few years in order to expand the business,'' Fresenius Kabi President and CEO Rainer Baule told reporters here.
The announcement comes with Fresenius Kabi, the wholly-owned unit of Fresenius SE, having brought 90.9 per cent share in Dabur Pharma.
The company had bought 73.3 per cent share in Dabur Pharma at a price of Rs 76.50 per share in cash in April and later increased the share up to 90.9 per cent, with acquiring 17.6 per cent stake in cash through a public offer.
The company also said it was looking to offload about one per cent stake in Dabur Pharma as per the SEBI guidelines.
''We are interested in strategic buyer to offload the one per cent additional stake as per the necessary regulation of the SEBI and we are talking to number of people for that,'' Mr Baule added.
''India is a long term strategic pharma market and Dabur completely fits in our portfolio,'' Mr Baule said, adding that the negotiations began a year ago which was mainly focussed on having a strategic business alliance for the Europe.
The company is also looking to launch various new products for the Asian markets.
Kabi's global reach will help Dabur to expand its footprint to non-regulated markets such as South East Asian countries and regulated markets like the Europe, he added.
However, the company said it has no plans for further acquisitions in the country, maintaining that the headcount is expected to grow.
The acquisition of US generic drugmaker APP will provide growth opportunities for Fresenius Kabi's existing product portfolio, along with providing North American markets for the Indian Firm, he said.
Dabur Pharma will be consolidated in the financial statements of Fresenius Group from September 1 this year and will continue its oncology business.
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