Wockhardt buys Ireland's Pinewood for Rs 687cr

Wockhardt buys Ireland's Pinewood for Rs 687cr

BS Reporter / Mumbai October 3, 2006

Pharmaceutical and biotechnology major Wockhardt has acquired Pinewood Laboratories, a branded generic pharmaceutical company in Ireland.

The all-cash deal was worth $150 million (Rs 686.91 crore) on an enterprise value basis. Pinewood reported sales of over $70 million for the year-ended June 2006, and a compounded annual growth rate (CAGR) of 20% for the last five years.