The ex-Piramal unit which will operate as part of US drugmakers established products division, sell a wide range of “branded” generic drugs, including antibiotics and treatments for respiratory, cardiovascular and CNS disorders.
Abbott predicted that the Indian generics market will be worth $8bn this year and forecast that it will be worth more than double that in 2015.
The takeover, announced in May , is part of Abbott’s efforts to increase the amount of revenue it generates in overseas markets, which currently represents around 20 per cent of its annual income.
