Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Pharmaceutical giant Pfizer has sold its German generic medicines unit, Heumann Pharma, to India's Torrent Pharmaceuticals.
Subscribe to our email newsletter
The move is thought to illustrate Pfizer’s intention to offload its non-strategic assets, including the manufacture of generic drugs. Instead, the company is said to be keen to focus on the research and development of new medications.
As part of the acquisition, Torrent Pharmaceuticals will gain access to the Heumann brand name, 315 marketing authorizations and 34 product registration applications, which is expected to give the company a stronger presence in Germany’s generic pharmaceutical business.
The Heumann product portfolio consists of 116 products, predominantly sold under prescription, of which 75% is made up of cardiovascular, gastro-intestinal and anti infective therapies. Torrent is hoping to use Heumann’s platform to sell these products in Germany and other EU countries.
The acquisition is expected to be completed by August this year.