Indian M&A deals top $1.5B in 2015 led by overseas acquisitions

Overseas acquisitions by Indian drugmakers were at a 5-year high this year and topped $1.5 billion compared to just $251 million in 2014, according to a report by Livemint. Using data from VCCEdge, the report said the "sharp increase" in M&A deals was the result of consolidation in the U.S. generics market and a high-risk "appetite" by Indian companies.

The deals were highlighted by the July acquisition of U.S.-based Gavis Pharmaceuticals by India's Lupin for $880 million and also by the September acquisition of InvaGen Pharmaceuticals and Exelan Pharmaceuticals by Cipla for $550 million, according to the report. Another deal of note was the May acquisition of Aspen Pharmacare's Australia business by Strides Arcolab for $287 million.

The report also said inbound deals into India doubled to $999 million compared to $430 million in 2014. Deals of note here included the February acquisition of India's Famy Care by Mylan ($MYL) for about $800 million and in October Recipharm said it would buy a majority stake in injectable contract manufacturer Nitin Lifesciences for $100 million.

The report also highlighted several hospital deals that included a $200 million majority stake sale in Hyderabad-based Ravindranath GE Medical Associates by Malaysia's IHH Healthcare in August and the March acquisition by IHH Healthcare which bought a majority stake in India's Continental Hospitals for $45.4 million.

Most recently, New Jersey-based startup Bionpharma said it has acquired about 25 products from India's Banner Life Sciences that generate about $70 million in annual revenues, according to a report in the Economic Times.

- here's the report by Livemint
- and one from the Economic Times