look news india
It seems that France has also moved on the Swadeshi path. Since, the French government has made efforts to stop the sale of its country's leading generic pharmaceutical company Biograin. Two Indian pharmaceutical companies Torrent Pharmaceuticals and Aurobindo Pharma have also jumped into the bidding for this company. Both these Indian companies have emerged as potential bidders along with other entities including a foreign private equity firm.
French Industry Minister Roland Lescure has been vocal about his government's decision to block the sale deal for some time. The French government has signaled close scrutiny of all bids to sell Biograin. In this regard, the French government has cited reasons including maintaining the vital supply chain of the pharma company and national interest. Of course, Torrent Pharmaceuticals and Aurobindo Pharma have not yet commented on this entire matter. It is noteworthy that Biogran is a leading generic pharmaceutical company of France. Which was established in the year 1996. And it has pharmaceutical markets in Africa, Europe and Latin America. Biograin is one of the first companies to invest in the production of generic medicines. Its first generic medicine was launched in February 2015.
A look at the French company's sales history
Torrent Pharmaceuticals and Aurobindo Pharma, along with other entities including a foreign private equity firm, have emerged as potential bidders to buy France's leading generic drug company Biogern.
The French government wants to block the sale of the company in the national interest and to protect Biogarne's vital supply chain.
BioGrain was put up for sale until the end of 2023.
Pharmaceuticals are of strategic importance in France.
The issue of Europe's pharmaceutical sovereignty has been a hot topic of debate, especially in the wake of the COVID crisis and recent medicine shortages.