The Ahmedabad-based Torrent Pharmaceuticals, after setting up subsidiaries in the US, Russia, Brazil and Germany, is looking at acquiring small or medium sized pharmaceutical company in Germany to strengthen its presence in Europe.
With the wholly owned subsidiary Torrent Germany GmbH functional, the company is in talks with several small companies for a possible takeover.
Company sources, however, said that that nothing has been finalised as yet. They added that the acquisitions will not exceed Rs 100 crore.
"Torrent is in talks with several small and medium pharma companies in Germany. Although nothing has materialised, the acquisition will be worth Rs 80 to Rs 100 crore," a company source said.
Germany, the third biggest market in the world, is a significant market for the company. The generic strategy of Torrent in Europe involves the developing of drugs whose patents are about to expire and then to enter into marketing alliances with big generic companies having significant marketing capabilities.
It also plans to explore possibilities of research and development collaborations in the EU and look for joint ventures to get a foothold in Europe.
In early 2004, Torrent Pharma entered into the US, the biggest pharmaceutical market in the world, by setting up Torrent Pharma Inc.
The company is open to collaborations with pharmaceutical companies and suppliers, which will help it commercialise its products and research collaborations, sources said.
Torrent Pharma also conducts discovery research on metabolic disorders and vascular diseases. Sources said the company is open to collaborations in research too.
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