Ipca buys Wyeth's cardio drug

Ipca Laboratories is acquiring Isordil (isosorbide dinitrate), the cardiovascular drug brand, from the US-based Wyeth.

A K jain, director finance, said, "The brand was a strategic fit in our portfolio and, hence, we acquired it." Though company declined to reveal the deal size, the brand is valued at Rs 18 crore.

Explaining the rationale behind the multinational drug maker's decision to sell the brand, sources close to the company said Wyeth neither has a major global presence in this segment nor is its core focus segment.

Ipca has been increasing its presence over the last few years in the high-margin formulation business such as the cardiovascular segment, which is one of the fastest growing segments.

The Rs 2,300 crore domestic cardio drug market is growing at 13 per cent per annum.

Ipca is a fully integrated pharmaceutical company with a thrust on exports. With operations in over 100 countries, exports account for over 55 per cent of the company's 2003-04 income.

Ipca is also into active pharma ingredients (APIs) business besides formulations. It is one of the biggest manufacturers in the world of APIs Atenolol (antihypertensive), Chloroquine Phosphate (antimalarial), Furosemide (diuretic) and pyrantel salts (anthelmintic) right from the basic stage. The company also supplies APIs and their intermediates globally.