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Micro Labs, Karnataka’s pharma major has acquired Swiss Pharma Nigeria Limited (Swipha), a leading pharmaceutical company in Nigeria. This marks its efforts to further bolster its presence in in Nigeria and across Africa.
Disclosing officially on the acquisition to a media house in Africa, the company said that all the staff of Swipha would be retained.
The Bengaluru-based Micro Labs is a fully integrated pharmaceutical company primarily engaged in the manufacturing and marketing of branded generic formulations in India and emerging markets. The company specialises in manufacturing of high-quality, affordable generic medicines across a diverse range of therapeutic areas with several formulations listed on WHO pre-qualification list including but not limited to anti-malaria.
According to Hemant Sharma, managing director, Micro Labs in Nigeria and now chairman of Swipha, the company’s portfolio includes cardiology, diabetology, pain management, dermatology, ophthalmology, veterinary, neurology.
With a network of 14 formulation plants, including an injectable unit and a bulk drug facility, Micro Labs has The company has established international offices in the United States, the United Kingdom, Germany, Australia, and Nigeria, with representative offices in emerging markets.
In Nigeria, the pharma company operates through Micro Nova Pharmaceutical Ind. Limited, with operations spanning over a decade in the Nigeria pharmaceutical industry space and has risen as market leader in specialised therapeutic segments.
Swipha on the other hand is a leading pharmaceutical company incorporated in 1976 dedicated to providing high-quality, affordable medicines to improve healthcare outcomes in Nigeria and Africa. Swipha is engaged in manufacturing, marketing, and distribution of high quality, affordable, branded generics, and INN. The portfolio includes therapeutic classes of central nervous system, anti-malaria, anti-infectives, cardiovascular system, and anti-diabetic, stated Micro in its disclosure to the media house in Africa.
Swipha is also first in Nigeria, West and Central Africa to attain WHO pre-qualification for zinc (anti-diarrhoea) and sulfadoxine, pyrimethamine (anti-malaria) drugs.
Sharma said “The acquisition will create significant value by consolidating both companies’ portfolios. The aim is providing affordable, quality medicines to the people of Nigeria and Africa and as well expand the range of antimalarial, anti-infectives cardio and metabolism among others.
Noting that the acquisition will provide more comprehensive treatment options, Sharma said, “Swipha’s distribution network, CRM, will improve supply chain efficiency, while its WHO-approved plant will enable Micro Labs to support manufacturing and export products to neighbouring countries.
“With Micro Labs presence across the entire pharmaceutical value chain – research and development, active pharmaceutical ingredients (APIs), finished formulations, the synergies that will reduce costs. Both companies are known for their quality and business acumen, making this acquisition a strategic move to leverage their combined strengths for greater success,” said the company disclosure.
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