Israel’s Teva Pharmaceutical Industries plans to invest over $1 billion in India to acquire Indian drug companies and set up greenfield manufacturing facilities

Israel’s Teva Pharmaceutical Industries plans to invest over $1 billion in India to acquire Indian drug companies. The investment is planned for the next 24 months. Around $250-$300 million will be utilised for manufacturing facilities and the rest to fund acquisitions in India.

A few weeks ago, Teva had acquired over 100 acres of land near Gwalior, Madhya Pradesh, to set up active pharmaceutical ingredient manufacturing facilities that will match the production capacity of domestic generic majors such as Ranbaxy, Cipla, Dr Reddy’s, Sun Pharma and Wockhardt.

Teva is also likely to integrate Regent Drugs, which it acquired from JK Industries in 2003, with its API business. Regent Drugs, now a 100 per cent subsidiary of Teva, manufactures some APIs that Teva requires for its global business. The company also sources APIs from many Indian companies.