Torrent Pharma To Pay $323M For Elder's Formulations Biz

Law360, New York (December 13, 2013, 4:29 PM EST) -- Indian drugmaker Torrent Pharmaceuticals Ltd. will purchase rival Elder Pharmaceuticals Ltd.'s branded domestic formulations business for more than 20 billion Indian rupees (about $323 million), the companies said Friday, in a move Torrent stated will strengthen its position in areas including women's health care and pain management.

The deal has been approved by both companies' boards and is expected to close before the midway point of 2014. While Elder said that its formulations business has been floundering of late, Torrent believes the acquisition will be beneficial...
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