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Intas Animal Healthcare Unit May Acquire Poultry Unit

by 5m Editor
9 October 2007, at 10:04am

INDIA - The Rs 1,000 crore, Intas Pharmaceuticals Ltd, a major player in the Indian pharmaceutial industry is set to acquire a poultry drug manufacturing unit for its animal healthcare division - Neovet.

With a growth 7 per cent witnessed by the animal healthcare product industry, Intas Pharma is Looking at consolidating its animal healthcare business as it is mulling acquisition of a drug manufacturing unit in the poultry segment.

Presently, the company is into manufacturing drugs for livestock and in companion animal segment.

"We are keen to acquire units that are into poultry drug manufacture," said Vijay Teng, vice president, Neovet. He further said that the company is keen on acquiring a mid-sized company in the poultry drug manufacturing segment.

According to an estimate, the livestock industry contributes 9 per cent to the GDP (Rs 10,50,000 crore), next to agriculture.

Source: BusinessStandard

5m Editor