According to PBR Contract Research & Services, Abbott and Solvay will merge their India operations at a swap ratio of Solvay (2):Abbott (3) shares. Solvay Pharma India has a presence in women's health, gastroenterology, mental health and influenza vaccines. Abbott India that offers a diverse range of pharmaceutical, nutritional and medical products, has acquired the domestic formulations business of Piramal Healthcare early this year.
Following the merger of Abbot India and Solval Pharma India, the US based Abbott will own about 75% in the combined entity. The transaction which is subject to court approval is expected to close in the early next year, said Abbott.
Posted by Bruce Lehr November 25th 2010.