(Glen)Marking a European presence

MANAGEMENT GURU

Mumbai-based pharmaceutical major, Glenmark, has acquired over 90% stake in Medicamenta of Czech Republic, marking its first commercial foray in the lucrative European market. The deal was sealed by its Swiss subsidiary, Glenmark Holdings SA, and the presence of Medicamenta's sales and marketing arm in both Czech Republic and Slovakia, would provide added opportunities for Glenmark. Reportedly, Glenmark shelled out $12-13 million for the acquisition. Meanwhile, without wasting much time, Glenmart Pharmaceuticals has also announced plans to launch 10-15 new generic drugs in next 2-3 years as it looks out for more companies (as big as Medicamenta) to acquire.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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