South Africa’s second largest drugs making company, Adcock Ingram will pay $86 million for Cosme Farma, an Indian medicines business. With the payment made, Adcock will bulk up its presence in the $16 billion market, Reuters reported.

Under the agreement, Adcock, will pay 90 percent of the purchase price as cash up front while the remainder would be paid after six months.

The presence of Adcock has been dwarfed by its rival Aspen Pharmacare, a larger company that has invested in overseas markets in recent years.


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