Natco Pharma , a prominent player in the Indian pharmaceutical sector, has received resounding support from its shareholders for its proposed acquisition of shares in Adcock Ingram Holdings Limited. The company announced that an impressive 98.66% of votes were cast in favor of the acquisition plan, signaling strong investor confidence in the strategic move.

Acquisition Details

The proposed acquisition involves Natco Pharma South Africa Proprietary Limited, a subsidiary of Natco Pharma, acquiring all issued ordinary shares in Adcock Ingram, except for those already held by Natco, those owned by Bidvest, and Adcock Ingram's treasury shares.

Shareholder Meeting Outcome

A general meeting was held on October 9, 2025, where shareholders voted on the scheme resolution. The results of the voting were as follows:

The scheme resolution was passed by the required majority, meeting all quorum requirements in accordance with the Companies Act and the company's Memorandum of Incorporation (MOI).

Next Steps

While shareholder approval marks a significant milestone, the scheme remains subject to the fulfillment or waiver of outstanding conditions precedent. Once these conditions are met and the Takeover Regulation Panel of South Africa issues a compliance certificate, the following actions will take place:

1. Adcock Ingram's issued ordinary shares will be delisted from the Main Board of the JSE Limited.
2. Shareholders recorded on the Adcock Ingram Securities Register on the Scheme Record Date will receive ZAR 75.00 per Adcock Ingram Share as the Per Share Scheme Consideration.

Natco Pharma has stated that the final dates for the implementation of the scheme and the delisting of Adcock Ingram from the JSE will be announced in due course.

Advisors

For this significant transaction, Natco Pharma is being advised by Investec Bank Limited and Bowmans Gilfillan Inc.

This acquisition represents a major step for Natco Pharma in expanding its global footprint and strengthening its position in the pharmaceutical industry. The overwhelming shareholder support suggests that investors see potential value in this strategic move, which could lead to enhanced market presence and potential synergies for the company.

Natco Pharma is poised to make a significant impact in the treatment of Spinal Muscular Atrophy (SMA) following a landmark decision by the Delhi High Court. The court dismissed an appeal by Swiss pharmaceutical giant F. Hoffmann-La Roche AG, paving the way for Natco to launch a generic version of the drug Risdiplam in India.

Legal Victory and Market Impact

The Commercial Appellate Division of the Delhi High Court upheld a previous ruling from March 24, which had initially cleared the path for Natco's generic Risdiplam. This decision marks the end of a prolonged legal battle and removes the final hurdle for Natco to bring this life-saving medication to the Indian market at a more accessible price point.

Pricing Strategy and Patient Access

In a move that aligns with its commitment to affordability, Natco Pharma has announced its pricing strategy for Risdiplam:

This pricing strategy represents a significant reduction compared to the original drug's cost, potentially making the treatment more accessible to a broader range of patients suffering from SMA in India.

Significance of Risdiplam

Risdiplam is a crucial medication for the treatment of Spinal Muscular Atrophy, a debilitating disease that is one of the leading causes of death in infants due to neuronal degeneration. Prior to this development, treatment options for SMA in India were limited and often financially out of reach for many patients.

Corporate Developments

Coinciding with this major pharmaceutical development, Natco Pharma has also announced a key appointment to strengthen its quality assurance team:

Mr. Kumar brings over 24 years of experience in the pharmaceutical industry, with expertise in cGMP and GLP standards, regulatory requirements, and production operations management.

Market Implications

This development is expected to have significant implications for both Natco Pharma and the broader pharmaceutical market in India:

1. Increased accessibility to SMA treatment for Indian patients
2. Potential boost to Natco Pharma's market position in specialty pharmaceuticals
3. Precedent for future generic drug launches in high-value therapeutic areas

As Natco Pharma moves forward with the launch of Risdiplam, the company's ability to navigate complex legal challenges while maintaining a focus on affordability and patient access demonstrates its strategic positioning in the Indian pharmaceutical landscape.

Investors and industry observers will be watching closely to see how this launch impacts Natco Pharma's financial performance and market share in the coming quarters.