Natco Pharma acquires 35.75% stake in Adcock Ingram for USD 226 million
Natco Pharma Limited has announced the successful completion of the delisting of Adcock Ingram Holdings Limited, one of South Africa’s oldest pharmaceutical companies, from the Johannesburg Stock Exchange (JSE).
This event marks the culmination of a strategic acquisition in which NATCO Pharma has acquired 35.75% of Adcock Ingram in a transaction valued at approximately USD 226 million (ZAR 4 billion).
In July 2025, Natco Pharma offered ZAR 75 (US$ 4.36) per share to acquire Adcock Ingram's minority shareholders, a proposal that was approved in October 2025 with thumping support from the shareholders. With the completion of this acquisition of stake, Natco Pharma attains market presence in South Africa.
"Natco Pharma aims to leverage Adcock Ingram’s established market position and consumer trust and expand its product offerings further in South Africa and beyond," the company stated in a BSE filing.
Rajeev Nannapaneni, CEO, Natco Pharma stated, “This acquisition represents a significant step in our strategic growth plan across the globe. We are committed to preserving the rich legacy of Adcock Ingram while enhancing its capabilities to better serve the healthcare needs of communities across Africa and beyond.”
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NATCO Pharma Limited is a public limited company, listed on the Bombay Stock Exchange and the National Stock Exchange of India, with a market capitalisation of c. US$ 2 billion. Established in 1981, NATCO Pharma has evolved into a diversified pharmaceutical manufacturer, with a primary focus on research and development, manufacturing, and global marketing of both finished dosage formulations and active pharmaceutical ingredients. NATCO Pharma operates across various geographies (in over 50 countries), including emerging and developed markets, with a particular focus on delivering quality medicines in oncology, cardiology, neurology, and other high-value therapeutic categories.
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