Purchase of generics manufacturer CP Pharmaceuticals by Wockhardt Ltd ’a major overseas acquisition’ by an Indian pharma company.
The acquistion of CP Pharmaceuticals based in Wrexham, UK by Wockhardt Ltd of Mumbai (Bombay), India in a deal wirth about £10.8 million will place Wockhardt among the world’s biggest generics players in pharmaceuticals.
CP Pharma generated revenues of £34 million from its businesses comprising generics, contract manufacturing, branded hospital drugs, and an export business.
The acquistion gives Wockhardt a combined UK business worth about £50 million
Wockhardt acquired UK’s Wallis Laboratory in 1998.
CP Pharmaceuticals recently closed a deal with Cell Therapeutics of Seattle to manufacture its arsenical Trisenox used for treatment of patients with certain types of cancer (see related article).
CP has contracts with pharmaceutical, biotechnology and drug delivery technology organisations for contract manufacturing in injectables, freeze dried products, solid dose tablet formulations, liquids, creams and ointments.
Keywords : Wockhardt Ltd India CP Pharmaceuticals UK Generics Contract manufacturing Pharma Biotech Sterile manufacturing Lyophilisation Solid dose Liquids Creams Ointments
