NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » Dabur pharma looking for acquisitions

Dabur pharma looking for acquisitions

Last updated on: July 28, 2007 01:55 IST
India's leading cancer medicine maker Dabur Pharma is on the lookout for overseas acquisitions, Mohit Burman, its newly appointed chairman, indicated.

The acquisition plans, however, do not signify a shift in the company's policy, but a reflection of its long-term business plans, he added.

In an exclusive interview, Burman, who took charge of Dabur Pharma on Thursday, told Business Standard that the change of guard, is in line with Dabur Group's overall plan to engage the new-generation managerial heads throughout its business empire.

"The objective is to infuse fresh ideas of young generation into the well charted business plans for stronger performance. My priority would be to take Dabur Pharma to the next level on the global platform."

"The immediate thing to do is to chart a higher growth path by looking at global opportunities. Dabur Pharma is a speciality oncology company. It will continue to be so. Over the last 10-15 years, we have established our credentials and have a global reputation," he said.

Mohit Burman, the youngest among the newly appointed corporate heads among Dabur businesses, is known to have a penchant for acquisitions.

Dabur's acquisition of an over 14 per cent stake in Punjab Tractors and the acquisition of Balsara's Home and Hygiene business were all driven by him. Burman is taking charge of Dabur Pharma at a stage when the company is consolidating its position in several South East Asian markets.

In the oncology segment, it is already a market leader in Thailand and Philippines.  The company has also filed 10 Abbreviated New Drug Applications in the US and hopes to enjoy a six-month market exclusivity for a generic version of a drug called oxaliplatin.

Joe C Mathew in New Delhi