Fair trade regulator Competition Commission of India on Wednesday approved Torrent Pharma's proposed Rs 2,000 crore acquisition of Elder Pharma's formulations business in India and Nepal, saying that the deal does not raise competition concerns.
The deal will help generic medicine maker Torrent enter new categories as well as expand operations in segments such as women's healthcare and pain management.
In its order on Wednesday, CCI noted that both Elder and Torrent are engaged in production and sale of generic medicines wherein "entry is relatively easier".
As per the order, the business to be acquired by Torrent comprises approximately 30 brands across segments of women’s healthcare, nutraceuticals and pain & wound management.
Published 09 April 2014, 18:30 IST