- (Globes via NewsPoints Desk)

Teva eyes $2 billion Indian acquisition of Micro Labs - (Globes via NewsPoints Desk)

  • 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."

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