Wockhardt acquires France`s Negma Labs for Rs1,090 crore

Mumbai: Pharma major Wockhardt today announced having acquired French pharmaceutical group Negma Laboratories for $265 million in cash. The acquisition will allow Wockhardt to extend this patented portfolio to other European markets where it enjoys a strong presence.

The transaction is valued at 1.8 times the sales and 9.7 times the Ebitda of the French firm.

Negma Laboratories is the fourth largest independent, integrated pharmaceutical group in France. France-based Negma is a unique acquisition for Wockhardt, as it is a research-based pharmaceutical company with 172 patents.

With this acquisition, Wockhardt would have more than 1,500 employees based in the continent and the European business would now account for more than 60 per cent of its total revenues, the company said in a statement to the Bombay Stock Exchange.

At present, Wockhardt has a portfolio of 130 products in the European market.