India's Wockhardt in fifth European acquisition

The Indian pharmaceutical company spends $265 million to acquire Negma Laboratories, a French research-based major with 172 patents.

Indian pharmaceutical and biotechnology company, Wockhardt, is to buy Negma Laboratories of France in an all-cash deal for $265 million that marks its fifth acquisition in Europe.

Negma is the fourth-largest independent integrated pharmaceutical group in France. For the most recent fiscal year it had sales of $150 million. Negma is a research-based company with 172 patents and leading positions in the osteoarthritisrheumatology, phlebotonic and the arterial hypertension segments. Wockhardt intends to use the patents to extend its business...

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