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Reliance Life Sciences has said it is looking for acquisitions in the clinical research space, but high-valuations are hindering its plans.
"We are looking to acquire clinical research companies," Reliance Life Sciences Chief Executive Officer K V Subramaniam told PTI.
The company has seen at least 3 clinical research companies in Europe, but had to back down because of high-valuations.
The 6-year-old organisation acquired UK-based Genemedix in 2007 for GBP 14.6 million - the Indian company's first acquisition.
"We are looking at acquisition up to USD 50 million. But companies that are prepared to sell ask for 10 to 15 times more of EBITDA," Subramaniam said.
The Mukesh Ambani-owned firm is also taking its own sweet time in acquiring because it does not have the "management bandwidth" to support new acquisition.
The company is not looking for acquisitions at home. "We are better off to build our business organically in India," he said.
It would use Genemedix as a spring board to launch products in Europe and the US. The company would start launching 40 products from this year onwards, which are in various stages of development.
"The products are being developed in-house. We want to create our own intellectual capital," he said.
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