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HYDERABAD: Natco Pharma Ltd has announced that it has acquired a pharmacy outlet NICK's Drug Store, based out of Newark, New Jersey, USA.

The acquisition was made by an American partnership firm, in which the company holds 75 per cent majority stake. For the year ended December 2005, the store is expected to post revenue of over $20 million with net profit in excess of $1.7 million, the company said in a press release here on Tuesday.

Natco Pharma believes that retail would be the key growth and hence proposes to follow this strategy. The store that has been acquired would only be the first one in a chain of acquisitions that the company proposes to make.

The company said it also eyes the large proportion of retail sales of generics and hope that these stores would form a natural outlet for its own generics as and when they were launched.

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