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Medreich set to go global

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CIOL Bureau
New Update

BANGALORE: Pharmaceutical formulation company Medreich Group, based out of India and the UK, is set to expand overseas and has found a new investor in Singapore-headquartered Asia investment firm Temasek Holdings to support the initiative.

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The transaction was completed during the first meeting of the newly constituted board in Bangalore recently. YES Bank Limited was the exclusive strategic and financial advisor to Medreich for the transaction.

Describing the allignment with Temasek as a significant milestone towards establishing the Medreich Group as a large manufacturing and marketing-based pharmaceutical company, promoters Rajeev Mehta, Keith de Souza and CP Bothra, in a joint statement, said: "Temasek's investment has come at an opportune time in the growth cycle of the group and will enable it to further strengthen its fast growing branded generic business in key geographies in Europe, Far East Asia and Africa. Temasek will provide valuable strategic networking, adding significant value to the business model by way of opening up opportunities in various South-East Asian and North Asian regions."

The infusion of funds is likely to be targeted at expansion of manufacturing facilities in India and the new markets such as France, Spain, China and the Far East, besides Latin America and Africa.

Tan Suan Swee, managing director of investment, Temasek Holdings, observed: "The Medreich Group has significant strengths in formulation of pharmaceutical products . We look forward to working with them as they embark on the next phase of growth expanding overseas."

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