Teva earmarks $1B for India

Here's more evidence that the developing world is hot, hot, hot. Teva Pharmaceutical Industries plans to invest a whopping $1 billion in India. The generics giant will spend between a quarter and a third of that on new manufacturing plants. The rest will go into acquisitions.

Teva recently bought 100 acres in Madhya Pradesh for new active pharmaceutical ingredient facilities. And banking sources told the Business Standard that Teva has been chasing major acquisitions on the subcontinent for three years. Possible targets: Indian drug makers Cipla, Aurobindo, Matrix, and Orchid.

"Teva considers India an interesting geographical region," a company spokeswoman told the local newspaper, "and is looking to broaden its activities in the country." Indeed.

- get the article in the Business Standard
- read this Pharmalot item