The fifth largest pharmaceutical company in India, Cadila Healthcare Ltd (Zydus Cadila) which is an important manufacturer of generic drugs declared on Friday 30 May that it has forayed in the market of Spain. It informed that the company has acquired 100 stakes in Spain’s Laboratorios Combix for an unrevealed financial consideration.

 

A spokesperson from Zydus informed that the process of finalizing the valuation is still on with the Spanish company. The spokesperson added that Combix has a pure generics focus and therefore, will prove to be appropriate for the entry of Zydus into the $1.7 billion Spanish market that is growing at the rate of 21.5 per cent. In a statement issued, the Zydus Company pointed out that that the pharmaceutical market of Spain is the fifth largest in Europe.

 

Established in 2006, Combix, with a sales and marketing focus, has a portfolio covering 17 molecules. At the same time, Spain’s Combix has products that are awaiting launch or are in the pipeline. Zydus forayed into the French market in 2003. Spain is an important market where Zydus is looking to create its presence as it is presently eyeing those markets in Europe which have a low generic penetration. The Spanish generic market is predicted to develop swiftly in coming years.