GLENMARK PHARMA BUYS SERVYCAL OF ARGENTINA

Indian drug maker Glenmark Pharmaceuticals Ltd said on Wednesday its Swiss subsidiary had acquired Servycal SA, a drug marketing firm in Argentina with expected annual revenue of $4 million. The value of the all-cash deal was not disclosed. The acquisition will be funded through internal accruals, Glenmark said in a statement. Servycal has a portfolio focussed on oncology and it owns 17 approved product registrations, with three more pending. Servycal is expected to earn revenues of $4 million in the fiscal year 2005/06, Glenmark said.

Hindustan (http://www.hindustantimes.com/news/181_1529915,00020009.htm)