Natco Pharma completes Adcock Ingram delisting, stake acquisition

Natco Pharma Limited announced the successful delisting of Adcock Ingram Holdings Limited from the Johannesburg Stock Exchange (JSE) on November 11, 2025. This coincides with Natco Pharma's acquisition of a 35.75% stake in Adcock Ingram, valued at approximately $226 million (ZAR 4 billion).

The acquisition follows Natco Pharma's offer of ZAR 75 per share to Adcock Ingram's minority shareholders in July 2025, which received approval in October 2025. This strategic move establishes Natco Pharma's market presence in South Africa, aiming to leverage Adcock Ingram's established position to expand product offerings and foster growth within the region.

Adcock Ingram, a South African pharmaceutical company established in 1891, ranks second in the private and public pharmaceutical market in South Africa. The company holds a 10% market share in the private market and leads the OTC pharmaceutical market. Rajeev Nannapaneni, chief executive of Natco Pharma, stated this acquisition is a significant step in their global strategic growth plan.