Hyderabad: Generic pharma company Natco Pharma has announced the acquisition of a 35.75% stake in South Africa’s Adcock Ingram Holdings Ltd (AIHL) for $226 million (about ₹2,000 crore), giving the company a wider reach to expand into the African pharmaceutical market. Following this transaction, AHIL has delisted from the Johannesburg Stock Exchange(JSE).
This deal, which was cleared by Natco’s shareholders earlier this month, included an offer for ZAR 75 per share, representing an 8% premium to Adcock’s fair value. Natco’s proposed the deal to Adcock’s minority shareholders in July 2025 with the approval received by October this year.
With this, Natco will become the second-largest shareholder in Adcock Ingram, behind Bidvest, which holds the remaining 64.25% stake.
AIHL is one of South Africa’s leading pharmaceutical companies, with brands like Allergex, Panado, Myprodol, Epi-Max, and Citro-soda under its fold. It has emerged as South Africa’s second-largest pharma company, supplying generic and branded formulations to hospitals across the country.
“This acquisition represents a significant step in our strategic growth plan across the globe. We are committed to preserving the rich legacy of Adcock Ingram while enhancing its capabilities to better serve the healthcare needs of communities across Africa and beyond.” Rajeev Nannapaneni, CEO at Natco Pharma, said.
Hyderabad-based Natco Pharma has been known in the pharmaceutical industry for breaching Intellectual Property (IP) rights of leading pharma majors including Roche, Novartis and Bayer. The company has been accused of misusing patent laws to recrate leading drugs at a fraction of the cost. Last month, India’s Supreme Court allowed Natco to continue manufacturing its version of Risdiplam, developed by Roche to treat Spinal Muscular Atrophy.
Following this deal, Natco will be able to strengthen its revenue base and reinforce its position as a global mid-cap pharma player with deep emerging market exposure.
