India's Serum Institute acquires Netherland-based Bilthoven Biologicals
Mumbai, July 4, 2012: Serum Institute of India, the country’s largest vaccine maker recently announced that it has bought the Netherland-based bio-engineering and pharmaceutical firm, Bilthoven Biologicals. Valuing the company at Rs.550 crore ($99.7 million), it may be noted here that Bilthoven Biologicals was the first such deal overseas for Serum Institute.
It is expected that this purchase will empower the Indian company to get its hands on technology used for making injectable polio vaccines. For the record, this technology is currently possessed by only three other vaccine manufacturers across the globe. In addition, this acquisition will provide Serum Institute with a manufacturing base in Europe along with an access to these markets.
Serum Institute, the flagship company of the Poonawalla Group will expand its presence in the paediatric vaccines segment. The Indian company has had business relations with Bilthoven Biologicals for the past 35 years.
It is believed that two out of every three children immunised across the world are vaccinated using the Serum medicine and this acquisition is expected to strengthen the position of the company stronger both in the domestic and the international market.