Cadila picks up 100 pc stake in Nippon

New Delhi, Apr 19 (UNI) Pharma major Cadila Healthcare Ltd today acquired 100 per cent stake in Japan-based Nippon Universal Pharmaceutical Ltd for an amount of three million dollars.

Cadila Healthcare Ltd Chairman and Managing Director Pankaj R Patel said, ''The acquisition will provide critical access to a ready manufacturing and marketing base as well as a strong distribution reach,'' The Japanese generics market valued at three billion dollars has tremendous growth potential as it currently stands at five per cent of the total pharma market in Japan in value terms and 17 per cent by volume, he added.

Cadila will be looking to leverage Nippon's strong relationship with key wholesalers which spans over three decades, Mr Patel claimed.

This marks Cadila's second overseas acquisition, the first being Alpharma France in 2003.

The group has been expanding its operations through both the organic and inorganic route.

Nippon Universal, a generic drug manufacturer reaches out countrywide to more than 4,000 hospitals and clinics.

UNI