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Virendra Pandit

Ahmedabad May 11 Lambda Therapeutics Research Ltd today announced acquisition of a Polish clinical research organisation.

"We have acquired 76 per cent stake in CBK-MPR Pharma of Warsaw for 4-5 million euros," Mr Ashish K. Dasgupta, Director, told Business Line. The deal was inked yesterday.

The Polish company, with annual revenues of two million euros, will continue to hold 24 per cent equity.

This is the first acquisition abroad by Lambda, which was established nine years ago.

The Polish firm is about five years old and the acquisition would provide a boost to the company's presence in Eastern and Central Europe with its capabilities in first to third phases of clinical trials.

Among the clients of Lambda are global players like Novartis, Sandoz and Pliva (Czech Republic) and national majors such as Dr Reddy's Laboratories, Ranbaxy, Wockhardt, Lupin, Cipla, Glenmark, Zydus Cadila and Torrent.

Lambda's full service operations are headquartered at Ahmedabad and its clinical operations in Mumbai and Chennai.

Mr Binish Chudgar, Chairman and Managing Director, said that the acquisition would help Lambda foray into clinical operations globally with an edge to conduct clinical trials across global locations.

Lambda, whose turnover increased to Rs 60 crore in 2006-07 from Rs 34 crore the year before, clocked a PAT of Rs 15 crore. It has seen a CAGR of 65-70 per cent.

More Stories on : Mergers & Acquisitions | Overseas Investments | Pharmaceuticals

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