Indian pharmaceuticals firm Eurolife buys Teva's European intravenous infusion plant
Eurolife Healthcare, one of the leading Indian specialty pharmaceutical, manufacturing and distribution company, has acquired the European intravenous infusions plant of Israel-based Teva Pharmaceutical Industries Ltd.
With this acquisition, Eurolife has emerged as the first Indian company in the intravenous infusions business to set up manufacturing operations abroad.
Sandeep Toshniwal, CEO, Eurolife Healthcare said, “Eurolife Healthcare will invest €50 million over the next three years to build one of the single largest IV plants in the world at this location. The takeover of TEVA’s Infusion plant gives us a distinct competitive advantage and will help us emerge as the leading international player in the category. This acquisition will also help us tap and service our EU and USA markets for IVs in a better way.”
“Eurolife is also adding massive capacities across its manufacturing plants in India to further increase its footprint in the Indian market along with exports,” he added.
Founded by Shyam Toshniwal in 2001, Eurolife manufactures formulations, intravenous infusions, ophthalmics, sterilised water for injections, nebules, tablets, capsules, ointment and creams. In India, the pharmaceutical company’s plants are located across Roorkee, Uttarakhand; Waluj, Maharashtra; and Alathur, Kerala.