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(From Business Line)
AHMEDABAD, Feb. 2. FOR the Zydus Cadila group, whose flagship company, Cadila Healthcare Ltd (CHL), there is a sense of deja vu as the merger of German Remedies Ltd (GRL) allows it to vault to No. 4 position among Indian pharmaceutical companies. Now, the pharmaceuticals business of Zydus Cadila, with the combined might of CHL, GRL and Recon Healthcare, has an aggregate turnover of Rs 690 crore, which puts it behind the first three - Glaxo Smithkline, Cipla and Ranbaxy.
In the process, it has overtaken Nicholas Piramal, Sun Pharma and Dr Reddy's Laboratories behind whom the group was perched at No. 7 position as per the ORG rankings in December 2002. And it was vindication time for Mr Pankaj R. Patel, Chairman, Zydus Cadila, who had said in 1995 …