Indian pharmaceutical investors have finalized a $215 million acquisition of Adcock Ingram Holdings, one of South Africa’s oldest pharmaceutical companies, marking a landmark cross-border deal in Africa’s healthcare sector. The 135-year-old Johannesburg-listed firm is set to delist from the South African stock exchange following completion of the transaction, according to a report by Business Insider Africa.
Adcock Ingram, founded in 1890, has long been a cornerstone of South Africa’s pharmaceutical manufacturing and distribution industry. The acquisition, led by India’s Natco Pharma, will transfer all minority shares to the Indian firm, effectively consolidating ownership and positioning the company for expanded operations across the continent. “This transaction represents our confidence in South Africa’s health sector and its potential to drive innovation and access to medicine across Africa,” a Natco Pharma spokesperson said in a statement quoted by Business Insider Africa.
The deal, valued at approximately R4.2 billion, underscores a growing trend of Indian pharmaceutical expansion into African markets, as Indian firms leverage their manufacturing capabilities and competitive pricing to meet rising healthcare demands. Analysts cited by ET Now News noted that the acquisition will also allow Natco Pharma to diversify its footprint amid global restructuring within the generics industry.
Business analysts told The Times of India that Adcock Ingram’s delisting, expected to take effect by November 2025, will enable the company to operate more flexibly under private ownership. The acquisition is still subject to regulatory approvals from South African authorities, but it is expected to strengthen pharmaceutical trade ties between India and Africa significantly.
