USV is relying on US and Europe markets as key drivers of its export revenues
USV, an Indian pharma company, headquartered in Mumbai, has forayed into German drug market by acquiring Juta Pharma. Reportedly, the German company has more than 50 marketing authorisations for generics drugs.
Leena Gandhi Tewari, Chairperson, USV said, “This is a positive move to have a presence in the German market and also the tender business. We are excited with the synergies and the opportunities that come from the acquisition of Juta Pharma. The strong work culture possessed by both the organisations will enable business growth in Germany and the strategic pursuit in the European market.”
On the acquisition, Prashant Tewari, MD, USV said, “Germany’s drug market is a highly competitive market. Acquisition of Juta Pharma enables launch of a basket of products with greater speed and also the direct participation in the tender market. The generic volume share is much higher in Germany compared to many other European countries. We expect the business to grow to $25 million in next five years.”
“We are very pleased to have found an organisation with similar values, beliefs and business goals. We really appreciate having joined the USV family and look forward to leveraging the strengths of the combined organisation”, said Torben Laursen, MD, Juta Pharma GmbH.
USV is relying on US and Europe markets as key drivers of its export revenues, having overcome the remediation hurdles for its Daman manufacturing facility.