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Natco Pharma has completed the additional acquisition of 13.25% stake in South Africa-based Adcock Ingram Holdings

ICICIdirect Research 15 Jul 2026 DISCLAIMER

News: Natco Pharma has completed the additional acquisition of 13.25% stake in South Africa-based Adcock Ingram Holdings Proprietary Ltd (AIHPL) for an aggregate consideration of ZAR 1.81 billion (around ₹1,060 crore), increasing its shareholding from 35.75% to 49%. AIHPL operates across prescription, consumer, OTC and hospital pharmaceuticals.

View: The hike in stake is likely to improve the PAT estimates for FY27 by 5-6% (from ~₹ 705 crore to ₹ 745 crore). However, given the high base of ₹ 1418 crore for FY26 (due to significant Revlimid contribution), the improvement is not that significant. We will keep tab on Natco’s other strategic moves and investments.

Impact: Neutral

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