India’s largest vaccine-maker Serum Institute of India has bought Dutch polio vaccine-maker Bethloven Biologicals for about €80 million.
Serum bought the company from the Netherlands government which is privatising the country’s loss-making assets. “This acquisition would give us a foothold in the US and Europe where selling vaccines with the Indian brand name is difficult,” said Poonawala. The company initially will pay €32 million and invest the remaining in the next 3-4 years. The access to technology, which makes injectables, is another reason for the acquisition, he said. Serum will also inherit Bethloven’s loss through this acquisition. The Dutch firm has been losing about €13 million every year. Poonawala says it will take at least 3-4 years to turn around the company.
Serum bought the company from the Netherlands government which is privatising the country’s loss-making assets. “This acquisition would give us a foothold in the US and Europe where selling vaccines with the Indian brand name is difficult,” said Poonawala. The company initially will pay €32 million and invest the remaining in the next 3-4 years. The access to technology, which makes injectables, is another reason for the acquisition, he said. Serum will also inherit Bethloven’s loss through this acquisition. The Dutch firm has been losing about €13 million every year. Poonawala says it will take at least 3-4 years to turn around the company.
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