The Hyderabad-based NATCO Pharma Limited is pleased to announce the completion of the purchase of assets of Newark Drugs, a retail pharmacy stores based in downtown Newark, New Jersey State in the USA.
This is the third acquisition that NATCO has made since 2006, the first two being Nicks' Drugs and SaveMart Drugs.
Newark Drugs has been acquired by K & C Pharmacy, a USA based general partnership firm, in which NATCO has a 75% share. Newark Drugs clocks around US $5 million in annual sales.
With its location adjacent to Nicks' Drugs, NATCO seeks to achieve economics of scale in purchasing through this acquisition.
With this acquisition in place, NATCO's revenues from US retail aggregates to over US$35 million in a full year.
NATCO has plans to acquire a few more stores to strengthen its presence In US retail markets.
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