Aug 29 Injectable generic drugs maker Hospira
Inc said it plans to buy a factory and a research center
from India-based Orchid Chemicals & Pharmaceuticals Ltd
for $200 million.
The factory, located in Aurangabad in India's western state
of Maharashtra manufactures active pharmaceutical ingredients.
It was constructed in 2000 and has 640 employees.
The R&D facility in the southern city of Chennai has about
160 scientific personnel.
Lake Forest, Illinois-based Hospira said it expects the
acquisitions to reduce costs, help supply key antibiotic
products and pave the way for development of active
Hospira estimates the deal to break even or slightly add to
earnings per share in the first year after it closes -
expectedly in the fourth quarter.
Shares of Hospira opened up slightly at $33.45 on the New
York Stock Exchange on Wednesday.