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MR N. PRASAD, Chairman and CEO, Matrix Laboratories.

With Matrix being snapped up by Mylan, the key issue now is whether this trend will gather pace. India's knowledge pool and cost competitiveness have always made it attractive for multinationals and, in recent times names of leading Indian players have been linked to global generic outfits. Consolidation, apart from bringing down the number of customers whose needs Indian outfits can address, will also heighten competitive pressure, as cost levers, hitherto unavailable to outfits without an Indian footprint, will be there for the taking.

In terms of therapy areas, there does not appear to be too much of an overlap between Matrix and Mylan. In time, we expect Mylan to tap into Matrix's product basket to expand its offerings. Matrix's presence in Europe through Docpharma should serve as Mylan's conduit for entry into that region.

Mylan's CEO, Robert Coury, said during the post-deal conference call that he would continue to look at the Indian market for acquisitions.

With one large generic player (Mylan) having made a move, the others may not want to be too far behind. With the pharma M&A scene set to hot up in the days to come, merchant bankers may well have reason to sport a smile.

Nath Balakrishnan

More Stories on : Pharmaceuticals | Mergers & Acquisitions | The Big Deal | Pharmaceuticals

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