Mumbai-based pharmaceutical company SeQuent Scientific Ltd has said that its subsidiary Alivira Animal Health Ltd has acquired 100% stake in Cadila Healthcare's animal health business in Germany in a cash deal.
According to separate stock exchange filings, Alivira Animal Health, through Alivira Ireland, has bought Bremer Pharma GmbH from Cadila for an enterprise value of 2.26 million euros ($2.8 million or Rs 18.3 crore).
Manish Gupta, managing director of SeQuent Scientific, said the acquisition will give the firm a comprehensive manufacturing footprint in the European Union across injectables, orals, solids, and powder range and front-end presence in six out of the top 10 EU markets.
Founded in 1982, Bremer Pharma is a veterinary health company in Germany which focuses on the cattle and swine segments. It has an injectable manufacturing facility.
Bremer has a portfolio of more than 400 registered products including vitamins and antibiotics across Europe, Far East, Middle East and North Africa (MENA), Russia and Africa.
It registered sales of 6.7 million euros ($8.3 million) for the year ending 31 March 2018 with marginal losses.
SeQuent Scientific operates in the domains of animal health, human health and analytical services. It has seven manufacturing facilities based in India, Spain, Germany, Brazil and Turkey.
The company’s consolidated net sales for the financial year 2016-17 stood at Rs 915 crore and it registered a net loss of Rs 16 crore.
SeQuent functions in the animal health business through its subsidiary, Alivira Animal Health.
SeQuent has been ramping up its animal healthcare business in recent years through a series of acquisitions.
In May 2016, it acquired 60% stake in Spanish animal health firm Karizoo Group for $8.2 million (Rs 55 crore).
Before that, Alivira picked up 70% stake in veterinary products maker Interchange Brazil for $3.6 million in cash.
In November 2015, Alivira acquired Turkey’s Topkim Premiks San at an enterprise value of about $7.2 million.
In August that year, it bought animal healthcare division of Mumbai-based small drug manufacturer Lyka Labs Ltd.