Dabur Pharma, an associate company of Dabur India Ltd, on Saturday said that its promoters and other shareholders have agreed to sell 73.27 per cent in the company to Fresenius Kabi (Singapore) Pte Ltd, at Rs 76.50 a share. The Singapore firm is a unit of European healthcare firm Fresenius SE.
Ahead of the announcement, Dabur Pharma shares ended at Rs 69.15 on Thursday on the Bombay Stock Exchange (BSE), down 4.2 per cent in a strong market. Stock exchanges were closed on Friday due to Mahavir Jayanti. Dabur Pharma, which makes anti-cancer drugs, had earlier this year denied that it was in talks with a German drug maker for a partnership or sale. The deal with Fresenius values it about 10 per cent higher than its market capitalisation of $273 million.
Last year, Dabur Pharma had sold its non-oncology drugs business to local rival Alembic to focus on cancer treatment drugs. With Saturday’s announcement, the Dabur Group is now expected to focus fully on its FMCG business, the fourth largest in India.
Founded in March 2003, Dabur Pharma operates in Europe and some other markets through its fully owned subsidiary, Dabur Oncology Plc. The fully integrated pharmaceutical business of Dabur Pharma covers oral and injectable finished dosage forms and active pharmaceutical ingredients and intermediates. The company has its manufacturing units for finished dosage forms at Bordon, UK, and Baddi, India, while active pharmaceutical ingredients (APIs) are manufactured at Kalyani, India, and some products come from Dabur India’ Sahibabad facilities.
Fresenius SE is a global health care group with products and services for dialysis, the hospital and the medical care of patients at home. The Fresenius Group consists of four business segments that are responsible for their own business operations worldwide — Fresenius Medical Care, Fresenius Kabi, Fresenius Helios and Fresenius Vamed.