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Novartis Generics acquires Lagap Pharmaceuticals in the UK
04-04-2001: Novartis Generics today announced that it has completed the acquisition of Lagap Pharmaceuticals Ltd, a leading marketer of generic pharmaceuticals located in Bordon,
Hampshire, UK from Adcock Ingram Ltd. of South Africa. Financial details were not disclosed. Generic pharmceuticals are drugs that are no longer protected by patents.
Ranked among the leading British generic pharmaceutical companies, Lagap markets a broad range of dosage forms and presentations of retail generics in the UK, which are produced by third parties. The company achieved sales of GBP 27 million (EURO 43 million) in 2000 and has about 70 employees.
Oswald Sellemond, Head of Novartis Generics, commented: "As a global leader in generics our strategic goal is to be present in every major pharmaceuticals market. The UK is the fourth largest European pharmaceuticals market and is the number two generics market in Europe. The acquisition of Lagap provides us a successful entry into the British generics market".
This is one of a series of acquisitions made by Novartis Generics over the past twelve months including: Grandis in Germany, SBPA in Australia, the European generics business of BASF, the US-generics business of Apothecon/BMS, Labinca in Argentina and, at beginning of this year, a production plant for a cefalosporine-antibiotics from Aventis in Germany.
Novartis Generics has two businesses and is comprised of companies that provide high-quality, generic pharmaceuticals and active ingredients for pharmaceutical and biotech industry. Through its expertise in production and formulation, Novartis Generics is in a strong position to offer their customers a large and affordable selection of high-quality medicines. Overall, the sector employs about 5700 people, achieving sales of CHF 1.9 billion in 2000. (Internet: http://www.gx.novartis.com)
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