Intas buys Teva assets for Rs 5,100 cr
Ahmedabad-based firm beats domestic rival Aurobindo, global giants Mylan and Novartis In one of the largest overseas acquisitions by an India pharmaceutical company, Ahmedabad-based Intas Pharmaceuticals acquired the generics business of Actavis in the UK and Ireland from global generics giant Teva for an enterprise value of £600 million (Rs 5,100 crore) in an all-cash deal. This is a big leap for the unlisted Indian company, which had annual revenue of Rs 6,569 crore, an earnings before interest, tax, depreciation and amortisation (Ebitda) margin of 22 per cent and net profit of Rs 882.5 crore in 2015-16. Teva sold these assets after the European Commission's (EU) anti-trust divesture requirements arising from its acquisition of Actavis Generics. The revenue of Teva's UK and Ireland stood at £250 million (Rs 2,100 crore) in 2015. Intas paid 2.4 times Teva UK's revenue for the acquisition. "This transaction represents a unique opportunity for Inta...