India's Dishman buys French company

Indian drugmaker Dishman Pharmaceuticals and Chemicals says that its Swiss unit has acquired a contract research and manufacturing firm from France-based Creapharm Group, Creapharm Parenterals, according to media reports, including Reuters and The Economic Times of India. Financial terms of the transaction were not disclosed, but the news saw the Indian firm’s shares rise 3% to 49 rupees.

Creapharm Parenterals specializes in liquid, semi-solid and injectable aseptic dosages, said Dishman, noting in a statement to the Bombay Stock Exchange that the French unit is expected to generate sales of 130 million-140 million rupees ($2.53 million-$2.73 million) in the first year of operations.

Dishman's chief financial officer V V S Murthy told Reuters: "We have paid a negligible amount to buy this company. It will support our entry into the formulations segment."