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Business Standard
a day ago
- Business
- Business Standard
Natco Pharma to acquire 35.75% stake in Adcock Ingram for ₹2,000 cr
The proposed Rs 2,000 crore deal will give Natco Pharma a strategic foothold in South Africa, with transaction completion expected within four months subject to approvals Sanket Koul New Delhi In a bid to enter the African market, Natco Pharma on Wednesday announced that it has submitted a firm intention for a ZAR 4 billion (Rs 2,000 crore) cash offer to acquire a minority stake in South Africa-based drugmaker Adcock Ingram Holdings (AIHL). If approved, the Hyderabad-based company will hold a 35.75 per cent stake in Adcock Ingram by offering ZAR 75.00 ($4.271) per share to minority stakeholders. The deal gives Natco a gateway into South Africa, with AIHL holding a 10 per cent share of the private pharmaceutical market in the country. It is also the largest supplier of hospital and critical care products in South Africa. This transaction would consolidate Natco's existing 0.80 per cent stake, making it the second-largest shareholder in AIHL, behind the Bidvest Group, which holds the remaining 64.25 per cent. 'Post-transaction, Natco will consolidate 35.75 per cent of AIHL's net profits in Natco's financial results in accordance with its shareholding,' the company said in a regulatory filing. If the deal proceeds, Adcock Ingram will be delisted from the Johannesburg Stock Exchange (JSE) and will continue to operate as a private South African business. Rajeev Nannapaneni, chief executive officer and vice-chairman of Natco Pharma, said the proposed acquisition would help the company tap into new revenue streams and expand its presence in one of the largest and fastest-growing emerging markets. In return, AIHL is expected to leverage Natco's research and development capabilities, regulatory expertise, and global marketing network to support local leadership and expansion into new markets. 'AIHL will benefit from a partnership with a research-focused, innovative, and vertically integrated pharmaceutical company, and over time, South Africans will be beneficiaries of wider access to affordable medicines,' said Andrew Hall, chief executive officer, AIHL. Valued at an estimated ZAR 11 billion ($632 million), AIHL generated revenues of ZAR 9.6 billion ($536 million) for the financial year ending June 2024. Founded in 1890, the company operates across four segments—prescription, consumer, over-the-counter (OTC), and hospitals. It has a diverse product portfolio ranging from generic and branded formulations to critical-care hospital products, as well as consumer and home-care products. The announcement was made after market hours. On Wednesday, Natco Pharma's shares rose by 2.01 per cent, ending the day's trade at Rs 1,034.75 apiece on the Bombay Stock Exchange (BSE).
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Business Standard
2 days ago
- Business
- Business Standard
IHH inks Fortis-Gleneagles O&M deal to strengthen pan-India platform
Under the agreement, Fortis will manage operations of six Gleneagles hospitals and one clinic, earning a monthly fee and expanding its bed capacity and national presence Sanket Koul New Delhi In a bid to consolidate its healthcare presence in India, Malaysian healthcare major IHH on Wednesday announced an operation and maintenance (O&M) services agreement between its two subsidiary companies—Fortis Healthcare and Gleneagles Healthcare India (GHIPL). As part of the agreement, Fortis will manage the operations of five out of the six hospitals and one clinic under the Gleneagles India network. The agreement will become effective for the sixth hospital—Gleneagles BGS Hospital in Karnataka—upon receipt of acceptance and acknowledgment from certain third parties. The move expands Fortis' geographic footprint by increasing beds under its management, and provides incremental revenue and improves profitability through direct service fees. As part of the deal, Fortis will be entitled to receive a monthly service fee at the rate of 3 per cent of the net revenue of GHIPL's hospitals business on a consolidated basis, which stood at Rs 718.5 crore as of March 31, 2025. Fortis' consolidated revenue stood at Rs 7,783 crore for the full financial year 2024–25 (FY25), of which Rs 6,528 crore came from its hospital business. The healthcare major currently has 4,750 operational beds, including O&M beds, in 27 facilities. It recorded 69 per cent bed occupancy, generating an average revenue of Rs 2.42 crore per occupied bed in FY25. The Delhi-based chain, however, added that the arrangement with Gleneagles is being done on an arm's length basis, as determined by an independent financial adviser. 'The arrangement does not entail any acquisition and is only for the provision of O&M services,' Fortis said in a regulatory filing on the exchanges. The filing also stated that GHIPL shall bear all third-party and out-of-pocket expenses incurred by Fortis, in the manner laid down in the definitive documents. Commenting on the deal, Prem Kumar Nair, group chief executive officer of IHH, said the O&M services agreement reflects the company's commitment to long-term growth in one of its most important markets. He added that this is being done by deepening collaboration to enhance patient care and outcomes and drive greater operational efficiencies.
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Business Standard
16-07-2025
- Business
- Business Standard
University of Southampton opens India's first foreign varsity campus
The Gurugram campus marks the first operational foreign university in India under NEP 2020 reforms, offering UK-aligned UG and PG courses and enabling student mobility Sanket Koul New Delhi Listen to This Article Union Education Minister Dharmendra Pradhan on Wednesday inaugurated the Gurugram campus of the UK-based University of Southampton, making it the first foreign university to operationalise its campus in India. The university received its official letter of intent from the Union education ministry in August last year, followed by a public announcement and formal launch on September 13, 2024. The development follows the University Grants Commission's 2023 notification of rules facilitating the entry of foreign higher education institutions into India as part of the National Education Policy 2020 reforms. Under these regulations, foreign institutions seeking to establish campuses in India must
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Business Standard
16-07-2025
- Business
- Business Standard
Emcure enters distribution agreement with Sanofi for diabetes drugs
Emcure to distribute and promote Sanofi's oral anti-diabetic brands Amaryl and Cetapin in India, expanding access amid rising prevalence of uncontrolled diabetes Emcure added that it will engage with healthcare professionals and expand the reach of these therapeutic solutions for patients across the country. Sanket Koul New Delhi Pune-based Emcure Pharmaceuticals on Wednesday announced an exclusive distribution and promotion agreement with Sanofi India (SIL) for its oral anti-diabetic (OAD) products in India. Under the agreement, SIL will continue to own and manufacture the brands across its plants in India and internationally, while Emcure will exclusively distribute and promote SIL's OAD range, which includes well-established brands such as Amaryl and Cetapin. There will be no employee transition from SIL to Emcure as part of this arrangement, the Pune-based drugmaker said in a regulatory filing to the exchanges. Emcure added that it will engage with healthcare professionals and expand the reach of these therapeutic solutions for patients across the country. 'With our strong distribution network in India, Sanofi's trusted oral anti-diabetic medicines will be available to more patients who need them,' he added. Over 100 million Indians are currently living with type 2 diabetes and its associated complications, according to a study by the Indian Council of Medical Research–INDIAB (India Diabetes). 'Of these, more than 60 per cent are living with uncontrolled blood sugar levels and are at higher risk of developing complications over time,' said Eric Mansion, general manager (pharma) for Southeast Asia and India at Sanofi. He added that with Emcure's wide and deeply penetrated presence across India, the company is confident of tapping the full growth potential of Amaryl and Cetapin. The announcement was made post market hours. On Wednesday, shares of Emcure Pharmaceuticals closed marginally higher by 0.22 per cent at Rs 1,363.85 apiece on the Bombay Stock Exchange (BSE).
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Business Standard
09-07-2025
- Business
- Business Standard
Illinois Tech's Mumbai campus opening aims for 300-student inaugural batch
India campus tuition fee may be a third of US campus fee premium Sanket Koul Shreya Nandi New Delhi Listen to This Article US-based Illinois Institute of Technology (Illinois Tech) is beginning preparations for opening its Mumbai campus in fall next year with an initial intake of around 300 students, Raj Echambadi, president, Illinois Tech, told Business Standard in a video interview. 'The institute is expecting to begin site exploration, and recruitment of faculty and staff in the next two-to-three months, so that active recruitment of students can start for an intake in the next fall,' Echambadi added. Likening its upcoming Mumbai campus to a node in Illinois Tech's overall network, he said that many American students will get opportunities to study in
