MUMBAI (Reuters) – Drug maker Cadila Healthcare Ltd. is close to
acquiring a mid-sized Spanish pharmaceutical firm for about $30
million, a newspaper report said on Friday.

Ahmedabad-based Cadila had started due diligence on the company and
the deal may be completed by September, the Economic Times said.

Company officials were not available for comments.

Since March, Cadila has acquired Liva Healthcare, Japan’s Nippon Universal Pharmaceuticals Ltd. and Brazil’s Nikkho.

“The company’s emphasis over the last few years has been on
expanding global operations and we have been looking at mid-sized
companies in emerging markets, where the generic penetration is low,”
Managing Director Pankaj Patel said in the report.

Source by in.reuters.com

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