USV Pvt. Ltd, an Indian pharmaceutical company, headquartered in Mumbai, entered the highly competitive German drug market by acquiring Juta Pharma GmbH. The German company has more than 50 marketing authorisations for generics drugs.
Germany is home to Europe’s largest and the world’s fourth largest pharmaceuticals market. It is a highly attractive R&D location ranked first in Europe and second in the world, with respect to clinical trials. According to market intelligence firm, the volume of generic drugs in Germany is expected to reach US$ 9.5 billion by end 2021.
Leena Gandhi Tewari, Chairperson, USV Pvt. Ltd. said, "This is a positive move to have a presence in the German market and also the tender business. We are excited with the synergies and the opportunities that come from the acquisition of Juta Pharma GmbH. The strong work culture possessed by both the organisations will enable business growth in Germany and the strategic pursuit in the European market.”
On the acquisition, Prashant Tewari, MD, USV Pvt. Ltd. said, “Germany’s drug market is a highly competitive market. Acquisition of Juta Pharma GmbH enables launch of a basket of products with greater speed and also the direct participation in the tender market. The generic volume share is much higher in Germany compared to many other European countries. We expect the business to grow to US$ 25 million in next five years.”
“We are very pleased to have found an organisation with similar values, beliefs and business goals. We really appreciate having joined the USV family and look forward to leveraging the strengths of the combined organisation”, said Torben Laursen, MD, Juta Pharma GmbH.
USV is relying on US and Europe markets as key drivers of its export revenues, having overcome the remediation hurdles for its Daman manufacturing facility.
USV is a 55 year old leading healthcare company in India. Its product portfolio comprises of APIs, and Finished products (Solid Oral, Sterile, Biosimilars). In the financial year 2015-16, total income was US$ 348.6 million. Indian business contributed 82% to the revenue, with leadership in the area of diabetes and cardiovascular disease. USV’s international business consists of a portfolio of APIs and Finished Dosages supplied to EU, US, Japan and LATAM markets.