Mumbai: After gaining a foothold in the European market with the acquisition of German drug marketing firm AxiCorp GmbH in February, India’s Biocon Ltd now has set its sights on the US pharma distribution market with a deal valued at about $400 million(Rs1,595 crore).
The Bangalore-based biotech firm has been scouting for an acquisition in the US that will sell its pharmaceutical products such as generics, biosimilars and biologics in the world’s largest drug market.
“The deal, if signed, will be Biocon’s second and the largest overseas acquisition in the marketing space,” said a person familiar with the development who did not wish to be identified.
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