Wockhardt Ltd has announced the completion of the acquisition of Negma laboratories, the fourth largest independent, integrated pharmaceutical group in France with sales of $ 150 million. For 35 years Negma was under the management of the founder family.

Negma is the company's fifth acquisition in Europe, after Wallis, CP Pharmaceuticals, Esparma in Germany and Pinewood Laboratories in Ireland. The Company has made successful integrations and value creation in all its former acquisitions.

Negma Laboratories is a research based pharmaceutical company with 172 patents. "This acquisition will allow Wockhardt to extend this patented portfolio to other European markets where Wockhardt enjoys a strong presence", said the company's chairman Habil Khorakiwala. "Further, it will provide us the right entry vehicle into the French generics market valued at $2 billion. With Negma's robust portfolio and impressive pipeline, Wockhardt will strengthen its pan-European presence," said Khorakiwala.

This is the company's biggest transaction, which was worth $265 million. The company will leverage Negma's manufacturing facility, similar to what has been achieved in UK and Ireland. The company now becomes the largest Indian pharmaceutical company in Europe with more than 1500 employees based in the continent.

With Negma's strong sales and marketing organization and the company's global presence, the business will gain further momentum.

The company has grown its revenues at a CAGR (compounded annual growth rate) of 24 per cent for the last 15 years since the company's IPO, and has provided an annualised shareholders' return of over 22 per cent per annum during the period.

Apart from being a global pharmaceutical and biotechnology major, the company is also into the healthcare business with its own super speciality hospitals in the fields of cardiology, orthopaedics, brain and spine, kidney and other tertiary care. The company has partnered in scientific and medical areas with Harvard Medical International, an international arm of Harvard Medical School (USA). Wockhardt Group employs about 5500 people belonging to 14 different nationalities.