Intas Pharmaceuticals Ltd has acquired hospital business of Combino Pharm in Spain and Portugal for an undisclosed sum. The acquisition has been made by Intas through its UK subsidiary Accord Healthcare Ltd. The Spanish firm Combino Pharm is a leading supplier of pharmaceutical products to a number of hospitals in Spain and Portugal.
The acquisition by Intas is a strategic move as its subsidiary already has presence in Spain but mainly supplies oncology drugs to hospitals.The transfer of Combino’s hospital division will bring anti-infective and critical care drugs to Accord’s portfolio. Post-acquisition Accord will have rights to supply these drugs to hospitals in Spain and Portugal.
“Through this acquisition, Accord obtains certain rights over Combino’s hospital portfolio in a number of European and non-European countries. The acquisition offers lot of synergies to Ac cord’s already existing business in Spain. It will further strengthen and expand Accord’s operations in Spain and Portugal,” said BinishChudgar, vice chairman and managing director of Intas Pharmaceuticals.
Combino has access to around 80 percent of the hospitals in Spain and Portugal. Intas plans to roll out the acquired products outside Spain, into other markets of Europe.
The company claims that about 55% of its total sales come from global operations. In November, Singapore’s investment firm Temasek Holdings Pte. Ltd had acquired a 10.16% equity stake in Intas by way of a secondary purchase of shares from private equity investor ChrysCapital.