Mr Kevin Wakeford, CEO, Adcock Ingram (Photo Courtesy: http://www.bdlive.co.za/)
Adcock Ingram, South Africa's second largest pharma company, has vocalized its plans to sell off its Indian business unit, Cosme Farma.
A provider of branded and generic medicines, Adcock has set a starting price of Rs 4.8 billion for potential buyers. It also specializes in over-the-counter products, and has been a major supplier of hospital and critical care products.
Cosme was founded in 1910 in Goa, and was acquired by Adcock in 2012 for Rs 480 crore.
Cosme was involved in the manufacturing and marketing finished pharmaceutical formulations in India and abroad. It also manufactured products used in treating acne, anemia, osteoporosis, osteoarthritis, psoriasis, fungal infections, and eczema.
On August 2015, Adcock released its 2015 year-end results along with its plan to formally sell its Indian unit.