Meiji Seika Pharma to acquire India’s Medreich for $290 million

Japan’s Meiji Seika Pharma revealed today that it intends to acquire all of the outstanding shares of Indian drugmaker Medreich, subsequent to which the company will become a subsidiary of Meiji Seika Pharma and will retain its name.

The purchase price of the shares agreed with the shareholders of Medreich is $ 290 million. The purchase price will be adjusted prior to closing in accordance with a customary mechanism agreed between Meiji Seika Pharma and the shareholders of Medreich, the Japanese firm stated.

Medreich has six manufacturing facilities built to comply with standards stipulated by international regulatory bodies. The facility has been validated through successful inspections by the UK MHRA, Australian TGA, PICS, MCC South Africa and Health Canada resulting in current Good Manufacturing Practices (cGMP) compliance/certification/accreditations by these regulatory bodies.