South Africa's Adcock Ingram to sell loss-making Indian unit

August 26, 2015 5:59 AM

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JOHANNESBURG Aug 26 South African pharmaceutical firm Adcock Ingram will dispose of its loss-making Indian unit, the company said in a statement on Wednesday.

Adcock Ingram bought unlisted Cosme Pharma for 822 million rand ($62.76 million) in 2013, but has had to write down its value by 278 million rand last year and a further 74.4 million rand this year, saying significant additional investment was needed to compete effectively in the Indian pharmaceutic...

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