Indians target LaborMed Pharma

The transaction is estimated to be worth $100 million (€68 mln), according to these same sources. LaborMed has an 11.5 percent share of the domestic market in terms of quantity, following Terapia Ranbaxy and Servier Laboratories.

LaborMed's takeover by one of the above-mentioned companies would mark the second entrance of an Indian company on the Romanian pharmaceutical market. Ranbaxy bought 96.7 percent of Terapia's shares for $324 mln (€270 mln) from the Advent International investment fund in March 2006.

LaborMed Pharma announced recently that it might sign a partnership with a strategic or financial investor in the coming 12 months to strengthen its position on local and regional pharmaceutical markets. The company registered €26 mln worth of sales in 2006 and estimates it will reach €35 mln in 2007.