| Torrent to buy Germany-based Heumann Pharma |
| Our Web Bureau / Mumbai June 27, 2005 |
| Torrent Pharmaceuticals (TPL) today agreed to acquire Heumann Pharma GmbH & Co Generica KG (Heumann Pharma Generics) of Germany through its wholly-owned German subsidiary, Torrent Pharma GmbH (TPG). According to a release on the website of TPL, Heumann Pharma Generics, a Pfizer group company, is engaged in the business of marketing generic medicines in Germany under the brand name Heumann. Heumann Pharma Generics had sales of euro 50 million for the fiscal year ended 30 November 2004, and is ranked 11th in the German generic market. The acquisition excludes manufacturing facilities, which will be retained by Heumann PCS GmbH, a wholly-owned subsidiary of Pfizer group. Heumann Pharma Generics will source its products partly from Pfizer |
