October 11, 2007

India's Intas looking to acquire poultry drug company

India's Intas Pharmaceuticals Ltd a major player in the Indian pharmaceutical industry, is currently in the market to acquire a poultry drug manufacturing unit for its animal healthcare division Neovet.

Hoping to consolidate its animal healthcare business, the company is especially interested in poultry drug manufacture, said Vijay Teng, vice president, Neovet.

The company did not reveal its target.

The acquisition would be between Rs 30 crore (US$7.67 million) and 40 crore (US$10.22 million), he stated.

The company has, until now, not entered the poultry drug segment due to its price-sensitivity.

However, as the industry develops, it has become much more stable, especially in terms of drug pricing.