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Emcure Pharmaceuticals, India, Acquires Ottawa company

Emcure Pharmaceuticals, India, Acquires Ottawa company

Emcure Pharmaceuticals, a drug maker based in Pune in the western state of Maharashtra, has acquired Canada‘s International Pharmaceutical Generics Ltd. and its marketing arm Marcan Pharmaceuticals. Marcan Pharma has over 60 approved products mainly available from McKesson and Kohl & Frisch, among other wholesalers, reports Economic Times.

Emcure recently estimated its annual global sales at over $670 million having widened its base from contract manufacturing. The company has a strong presence in India, U.S., and European markets.

Emcure’s entry into Canada is similar to the strategy it had adopted during the acquisition of U.S.-based Heritage Pharmaceuticals in 2011. Emcure’s support to Heritage accelerated its U.S. sales for FY 2016 to $265 million. Industry experts say that Canada could be attractive for Emcure, although there could be challenges as the Canadian government implements a reference pricing system.

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