Global pharma group Cipla in Aussie M&A search, appoints advisers
Indian pharmaceuticals group Cipla has called in advisers to help hunt Australia’s generics and hospital pharmaceuticals sector for potential acquisitions.
Cipla, listed in India with an $18 billion market capitalisation and about $4 billion annual revenue, has told industry players it wants to develop a full supply chain of pharmaceutical products for Australians, and reckons a few mid-sized acquisitions could help.
It is understood group has Sydney-based HealthInvest Advisors sniffing around the sector on its behalf. The boutique specialises in pharma, biotech, medical devices, vitamins and supplements in Australia and New Zealand, so should have a few ideas about where to look for M&A.
It’ll be interesting to see where Cipla pops up. It’s understood to be keen to get into vitamins and minerals, as well as over the counter medications, self-care products and medical devices, targeting “mid-sized” purchases and/or partnerships.
It comes nearly a decade after Cipla opened an Australian headquarters in Melbourne, in what was one of its first regional expansions outside of India.
Cipla Australia now has more than 200 registered formulations with the TGA, either through its own manufacturing or via partnerships with other drugmakers. Its locally registered pharmaceuticals include over the counter, prescription and hospital medicines.
Cipla has deep pockets should it wish to swing hard, and an appetite to grow internationally. The company’s global managing director and CEO, Umang Vohra, recently said in an interview that Australia was a key market as part of the wider expansion plans.
As it stands, Mumbai-based Cipla is one of the world’s largest manufacturers of respiratory medicines and related devices, with a presence in more than 80 countries, 1500 products and about 25,000 employees.