Wockhardt acquires Negma Laboratories in France

Bangalore, May 16 (UNI) Pharmaceutical and biotechnology major Wockhardt Limited today announced the completion of the acquisition of Negma Laboratories, the fourth largest independent, integrated pharmaceutical group in France with sales of 150 million US Dollar.

With this Wockhardt becomes the largest Indian pharmaceutical company in Europe with more than 1,500 employees based in the continent, according to a press release here.

Negma was Wockhardt's fifth acquisition in Europe, after Wallis and CP Pharmaceuticals (both in UK), Esparma in Germany and Pinewood Laboratories in Ireland.

Company Chairman Habil Khorakiwala was quoted as saying ''this acquisition will allow Wockhardt to extend this patented portfolio to other European markets where Wockhardt enjoys a strong presence.

''Further, it would provide us the right entry vehicle into the French generics market valued at two billion USD.

With Negma's robust portfolio and impressive pipeline, Wockhardt will strengthen its pan-European presence.'' UNI