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Eurolife Healthcare takes over Teva’s IV infusions plant in Europe
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Our Bureau, Mumbai
August 01 , 2019
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Eurolife Healthcare Pvt Ltd, one of the leading Indian specialty pharmaceutical, manufacturing and distribution companies, has taken over Teva’s intravenous (IV) infusions plant and operations, located in Hungary, for an undisclosed amount.
With this takeover, Eurolife has emerged as the first Indian company in the intravenous infusions business to set up manufacturing operations abroad.
The company had, in 2017, taken over American MNC Baxter’s India operations, and has strategic thrust on growth via takeovers and acquisitions worldwide.
Announcing the breakthrough, Sandeep Toshniwal, chief executive officer, Eurolife Healthcare Pvt Ltd, said, “Eurolife Healthcare will invest €50 million over the next three years to build one of the single largest IV plants in the world at this location.”
“The takeover of Teva’s Infusion plant, gives us a distinct competitive advantage and will help us emerge as the leading international player in the category. This acquisition will also help us tap and service our EU (European Union) and US markets for IVs in a better way,” he added.
Toshniwal also added that Eurolife was also adding massive capacities across its manufacturing plants in India to further increase its footprint in the Indian market along with exports.
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