Eurolife Healthcare, one of the leading Indian specialty pharmaceutical, manufacturing and distribution company, announced the takeover of TEVA’s Intravenous Infusions plant / operations, located in Hungary, for an undisclosed amount.
According to a statement released by the company, with this takeover, Eurolife has emerged as the first Indian Company in the Intravenous Infusions business to set up manufacturing operations abroad. The company had in 2017 taken over American MNC Baxter India’s operations and has strategic thrust on growth via takeovers and acquisitions worldwide.
Announcing the break-through, Sandeep Toshniwal, CEO, Eurolife Healthcare said, “Eurolife Healthcare will invest €50 million over the next three years to build one of the single largest IV plants in the world at this location. The takeover of TEVA’s Infusion plant gives us a distinct competitive advantage and will help us emerge as the leading international player in the category. This acquisition will also help us tap and service our EU and USA markets for IVs in a better way.”
“Eurolife is also adding massive capacities across it’s manufacturing plants in India to further increase its footprint in the Indian market along with exports,” added Toshniwal.