End of an era for one of South Africa’s oldest companies

Adcock Ingram’s shareholders have approved a deal that will see India’s Natco Pharma acquire a substantial stake in the pharmaceutical giant.

Once all conditions have been met, Natco Pharma will acquire all of the issued ordinary shares in Adcock Ingram, other than those currently owned by Bidvest and treasury shares of Adcock Ingram.

Hyderabad-based Natco is offering R75 per share for around 35.75% of stock not already owned by Bidvest.

This acquisition will also result in Adcock Ingram being delisted from the Johannesburg Stock Exchange (JSE).

This will mark the end of an era for the pharmaceutical giant, which has been listed on the exchange since 1950, when it became the first pharmaceutical company to list on the JSE.

Adcock Ingram is one of South Africa’s oldest companies, founded over 130 years ago in 1891.

Its extensive portfolio of products includes well-known household brands like Panado, Allergex, Epi-max, Citro-Soda and Myprodol.

The company is involved in nearly every part of the pharmaceutical value chain, as it manufactures, markets, sells, and distributes a wide range of products.

Adcock Ingram is also South Africa’s largest supplier of hospital and critical care products and provides work to more than 2,400 employees.

Natco’s transaction with the company was first announced in July 2025. Natco is a multinational pharmaceutical company based in Hyderabad, India.

It manufactures finished dosage formulations, active pharmaceutical ingredients and agrochemical products.

On Friday, 10 October, Adcock Ingram announced via SENS that Natco’s acquisition received shareholders’ approval following a general meeting.

At this meeting, Natco’s acquisition received 98.66% of the votes approving the deal, with 1.34% of the votes against.

The final salient dates for the implementation of this transaction and Adcock Ingram’s delisting from the JSE are yet to be announced.