Adcock rules out shake-up

GROUP: OPERATIONS TO CONTINUE AS USUAL

- Anathi Madubela

Adcock Ingram has ruled out any immediate shake-up to its product line-up following Natco Pharma's major stake bid, saying operations will continue as normal and no brands will be cut unless it makes economic sense.

The pharmaceutical group said there were no plans to discontinue or rationalise any brands, despite an intention to delist from the JSE following buyout plans from India's Natco Pharma.

Natco Pharma announced last week that it was set to acquire all remaining ordinary shares in Adcock, representing a 35.75% stake, for R75 a share or just over R4.2 billion in total.

Adcock will then become a privately held entity co-owned by Bidvest and Natco. Bidvest will remain the majority shareholder in the group. Adcock Ingram makes popular FMCG pharmaceutical products like Panado, Compral, BioPlus, Adco-Mayogel and Gyna-Guard.