Pfizer is selling its generics unit, Heumann Pharma, to Torrent Pharmaceuticals of India.
The financial details of the deal, which is expected to complete by August this year, remain undisclosed, but with the purchase, Torrent acquires a company with annual sales of around 50 million euros. Heumann is currently ranked eleventh in the German market for generic drugs.
Torrent notes that the acquisition will give it access to the 90-year old “Heumann” brand name, 315 marketing authorisations and 34 product registration applications, together with a strong presence in Germany – an 8 billion euro generics market, which is expected to increase over the coming years. the Indian company adds that Heumann’s product portfolio provides good strategic fit with cardiovascular, gastro-intestinal and anti infective therapies constituting around 75% of the portfolio.