Indian pharma takes M&A route to build a global footprint

Leading Indian drug makers Sun Pharma and Dr. Reddy's have been expanding their business empire striking deals at a brisk clip - aimed at gaining access to newer markets while also enhance technological capabilities in developing new drugs.

Last week Dr. Reddy's acquired a portfolio of eight complex generics in the US from Teva in a deal worth $350 million. Dominating the M&A space, the two companies have signed deals worth $4 billion over the last two years.

Ranbaxy alone took $3.2 billion for Sun Pharma, the largest transaction in the Indian industry. Not to be left out, Lupin struck the biggest deal last year to buy US-based Gavis for $880 million and Cipla bought Invagen in the same market for $550 million