Mumbai : Ahmedabad-based drug maker Torrent Pharmaceuticals is very close to finalise a deal for acquiring women’s healthcare portfolio from Swiss pharmaceutical major, Novartis.
Novartis’ women’s healthcare portfolio had a turnover of about Rs 70 crore in India and the deal is likely to be completed within the next eight weeks.
Both the companies have already signed a business transfer agreement (BTA), and the total valuation of the deal would be around Rs 300 crore.
Before this, Torrent had acquired branded domestic formulations business of Elder Pharmaceutical in India and Nepal for Rs 2,004 crore.
According to industry insiders, the deal could help the company become the largest player in the women’s healthcare segment.
Torrent has hormones and calcium preparation products like Shelcal, whereas Novartis has other women healthcare products like anti DUB, thus there can be a huge market for the company.