According to website VCCircle, Teva is a contender to acquire Micro Labs for almost $2 billion, Globes reported Sunday.
VCCircle noted that Pfizer and private equity buyout firms are eyeing branded generics manufacturer Micro Labs, which had a net profit of $45 million on $280 million revenue in the year through March 2011.
In response, Teva said it "does not comment on market rumours in regards to its M&A activities," while Micro Labs CEO Dilip Surana remarked that "no such talks are going on."
Micro Labs is planning to expand into the UK, the US, Canada, South Africa and Japan. "VCCircle" said that if
VCCircle noted that "for global firms, Micro Labs could be yet another opening to expand into or enter the Indian pharma market which has been consistently growing in the 15-20 percent annually."