2008 July 31 | IndusLatin

Promoting India Latin America Collaboration

Lupin buys Hormosan Pharma to enter German market

July 31st, 2008 Posted in Health and Pharma, India, M&A

Pharma major Lupin Limited has acquired Germany-based medicine marketing company Hormosan Pharma (Hormosan), to cater to the German market that is veering towards low-cost, insurance payout-controlled medicine. Hormosan specialises in the supply of medicines for nerve-related illnesses (CNS) and reported sales of Rs 45 crore for the year ended December 2007.

It develops, licences and markets a range of generics in Germany. With the acquisition, Lupin, which has annual sales of Rs 2,770 crore (USD$651.49 million) hopes to bypass the high overhead costs, which plague the top five generic drug companies that have controlled the German market traditionally.

Popularity: 5% [?]

ITC to pump in Rs 8,000 crore for business growth

July 31st, 2008 Posted in India, Investing, M&A

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The Financial Express

Chairman YC Deveshwar said ITC would be looking for growth in every business that it is in, including some new ones.

Meanwhile, the company reported an 18% growth in net turnover to Rs 3,900 crore for the quarter to June 30, 2008, with the main driver being the non-cigarettes business as the company continued to scale up new FMCG businesses and grew its agri-business, hotels and paperboard & packaging businesses.

Earlier, at the AGM, Deveshwar had waxed eloquent on the virtues
of agro-forestry and how the use of wood in housing should be
encouraged as wood is a good carbon sink.

Popularity: 4% [?]

Fertiliser firms to invest $5 bn in JVs abroad

July 31st, 2008 Posted in Agriculture, India, Investing

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Business-Standard

Indian fertiliser companies are planning to invest around $5 billion (Rs 21,000 crore) in overseas joint ventures over the next three years. These companies are in negotiations for 19 such ventures, said government officials. These joint ventures are aimed at sourcing nitrogenous, phosphatic fertilisers and other raw materials.

The companies involved in the talks include domestic fertiliser majors such as Indian Farmers Fertiliser Cooperative (Iffco), Rashtriya Chemicals & Fertilisers (RCF), Nagarjuna Fertilisers & Chemcials, Coromandel Fertilisers & Mangalore Chemicals & Fertilisers among others. The talks are being spearheaded by the department of fertilisers, the nodal agency responsible for adequate availability and timely supply of fertilisers across the country.

While the proposed ventures in Argentina, Canada, Jordan, Morocco and Ukraine are primarily aimed at potash production, the government is looking at countries such as Algeria, Australia, Azerbaijan, Egypt, Iran, Kuwait, Mozambique, Nigeria, Ukraine and Saudi Arabia for ammonia and urea fertilisers.

Popularity: 2% [?]

Brazil should seek bilateral deals after WTO failure – exporters

July 31st, 2008 Posted in Brazil

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Forbes.com

The collapse of the Doha Round talks in Geneva on Tuesday was felt like a shock of cold water in Brazil, which had been hoping for greater access to U.S. and EU markets for its many agricultural exports.

Now, the country ‘will have to revise all its priorities,’ said Zoraya Rosar, the international coordinator for the National Confederation of Industry.

The top objective is to renew negotiations with the European Union and the Mercosur trade block in South America, as well as seeking deals with the United States, Mexico, India and other big economies.

Foreign Minister Celso Amorim, who spearheaded the WTO negotiations for Brazil, has already said the focus will now be on talks with Europe that were set aside during the global haggling.

Popularity: 2% [?]