Natco acquires US drug store

Hyderabad-based Natco Pharma (NPL) has acquired SaveMart Pharmacy, a multi-utility drug store based in Pennsylvania in the US for an undisclosed amount.

The acquisition was carried out through Natco Pharma Inc, a Delaware-registered corporation, which is a wholly owned subsidiary of NPL. The revenues and profits of SaveMart Pharmacy will accrue to NPL. The acquisition was funded partly through internal accruals and debt. SaveMart, voted as a top store in Lancaster Country in Pennsylvania, clocked $18 million sales last year.

(Source: Business Standard)