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Intas Pharma considers buying ICI unit

Intas Pharmaceuticals, a closely held Ahmedabad-based company, is considering buying chemical firm ICI India Ltd.“s INR 630 million drug business, Economic Times reported.
ICI has been looking for a…

Intas Pharmaceuticals, a closely held Ahmedabad-based company, is considering buying chemical firm ICI India Ltd.“s INR 630 million drug business, Economic Times reported. ICI has been looking for a buyer for its drug unit after it decided to exit the sector and focus on its core businesses of decorative paints, specialty chemicals, catalysts, polymers and fragrances, the newspaper says, citing sources. Intas makes drugs across a range of specialty therapy segments like cardiovascular, neuropsychiatry and vaccines. ICI“s drug business comprises cardiovascular drugs, anesthetics and antiseptics. Tenormin, a leading brand of heart drug Atenolol, features among its top brands. Bulk drug exports make up 15% of total sales, the newspaper reports.

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