OXYGEN
22/06/2005, 16h49
Conséquences de la surcapacité chez les génériqueurs (stt en Inde actuellement) va : 1) forcer des consolidations en séries, 2) faire baisser les prix 3) faire sortir du bois la Chine qui ne doit pas s'y prendre trop tard pour acquérir des sociétés occidentales.
Concernant Docpharma, les enchères devraient encore monter car la surprime de cession n'est pas extraordinaire pour les actionnaires
(...)
Both Sandoz, the generics arm of Novartis, and Israel's Teva Pharmaceutical Industries (up $0.18 to $32.16, Research) are extending their lead over rivals as the world's top two generic firms -- a fact that is adding pressure on smaller players to catch up.
Indian firms, in particular, are becoming more aggressive in their global ambitions, as highlighted by this week's planned purchase by Matrix Laboratories to buy a controlling stake in Belgium's Docpharma for up to $238 million.
It is the biggest foreign acquisition yet by an Indian generics manufacturer -- but it is unlikely to be the last.
"We are seeing the Indian firms beginning to step up to the plate in a big way now," said Tommy Erdei of ABN AMRO, whose bank advised Docpharma.
But China is hot on its heels, pointing to an increasingly tough competitive environment in the years ahead.
"The pricing competition is being driven by a huge overcapacity in the market because of all the investments that have been made in India and are going to be made in China," Frank Condella, European head of operations at Ivax
(...)
http://money.cnn.com/2005/06/22/news/midcaps/generics/index.htm
Concernant Docpharma, les enchères devraient encore monter car la surprime de cession n'est pas extraordinaire pour les actionnaires
(...)
Both Sandoz, the generics arm of Novartis, and Israel's Teva Pharmaceutical Industries (up $0.18 to $32.16, Research) are extending their lead over rivals as the world's top two generic firms -- a fact that is adding pressure on smaller players to catch up.
Indian firms, in particular, are becoming more aggressive in their global ambitions, as highlighted by this week's planned purchase by Matrix Laboratories to buy a controlling stake in Belgium's Docpharma for up to $238 million.
It is the biggest foreign acquisition yet by an Indian generics manufacturer -- but it is unlikely to be the last.
"We are seeing the Indian firms beginning to step up to the plate in a big way now," said Tommy Erdei of ABN AMRO, whose bank advised Docpharma.
But China is hot on its heels, pointing to an increasingly tough competitive environment in the years ahead.
"The pricing competition is being driven by a huge overcapacity in the market because of all the investments that have been made in India and are going to be made in China," Frank Condella, European head of operations at Ivax
(...)
http://money.cnn.com/2005/06/22/news/midcaps/generics/index.htm