Japan’s Meiji Holdings Ltd on 11 June 2014 acquired Bangalore-based pharmaceutical firm Medreich for 290 million US dollar. Meiji in its filing to the Tokyo Stock Exchange informed that the acquisition was made through the operating subsidiary, Meiji Seika Pharma Co. Ltd.
With this acquisition, Medreich will be a fully-owned subsidiary of Meiji Seika Pharma and the name of the entity will remain unchanged.
The acquisition of Medreich was done as a part of Meiji’s long-term management policy, Meiji Group 2020 Vision. As per the Vision 2020, Meiji Seika Pharma seeks to become a major Specialty and Generic Pharmaceutical Company internationally with particular emphasis on Asia and emerging economies.
Medreich is a fully integrated pharmaceutical company involved in the manufacturing and marketing range of pharmaceutical preparations in various dosages. It caters to diverse Therapeutic categories, across various geographies. It does contract manufacturing of pharmaceutical formulations (CMO) and contract development and manufacturing (CDMO). It also sells generic pharma products to Europe, Asia and Africa.
Medreich had a client base across 54 companies and is involved in manufacturing of formulations for multinationals like GSK, Pfizer, Sanofi Aventis, Wyeth, Adcock Ingram, Mylan, Actavis and many other customers.
When: 11 June 2014