Pune-based leading vaccine manufacturing company, Serum Institute, announced on July 4 that it had acquired the Netherlands-based Bilthoven Biologicals for Rs 550 crore. This is the company's first overseas acquisition and involves acquiring 100 per cent stake in Bilthoven Biologicals, a press release said. According to Cyrus Poonawalla, chairman of the Poonawalla Group, the total deal size is 80 million euros or Rs 549.6 crore as of today's value. "We have already paid 32 million euros. The remaining amount will have to be paid over a period of two to three years because of the liabilities and assets which are pending," he said.

Through the acquisition, the Serum Institute will get access to technology and expertise for making the Injectable Polio Vaccine (Salk), the company said. "The acquisition will significantly strengthen our position in the global vaccines market, while giving us access to the technology and production facility of the vaccine, which is the only logical solution available to the world for the eradication of polio. This will also significantly enhance our earlier offerings in the paediatric vaccines' segment, including DPT, measles and MMR vaccines," Poonawalla said. More importantly it also gives the Poonawalla Group an important operational and strategic position across Europe and the U.S., with a significant manufacturing base in the Netherlands, he added.

Serum plans to invest 70 million euros in the next three years in Bilthoven Biologicals to augment the infrastructure and enhance the manufacturing capacity of Bilthoven's facilities. Bilthoven Biologicals is spread over 20 acres and employs over 200 people. The unit has a manufacturing capacity of over 20 million doses of vaccines in a year and the company sells these vaccines to Europe and the developing countries. Serum has recently set up Serum Bio Pharma Park, India's first biotech special economic zone (SEZ). The park is adjoining Serum Institute's existing manufacturing unit and is a sector-specific SEZ meant for biotechnology and pharmaceutical products.