Shares of Natco Pharma, which has a partnership with Mylan, fell over 5 per cent on Wednesday as Israel-based Teva Pharmaceuticals made an unsolicited $40 billion takeover offer for smaller rival Mylan.If the Teva-Mylan deal goes through, it might have a mixed impact on India pharma companies like Natco Pharma and Biocon, said Surajit Pal, pharma analyst at domestic brokerage Prabhudas Lilladher.Teva Pharmaceutical Industries on Tuesday made an unsolicited $40 billion takeover offer for smaller rival Mylan NV. If the takeover goes through, it will create world's top-selling generic-drug company as the combined entity will have $30 billion in sales in 145 countries. Analysts say pressure has been growing on Teva for new revenue sources as multiple sclerosis drug Copaxone is facing generic competition.Natco Pharma has a partnership with Mylan for marketing the generic version of Capaxone on a profit-sharing basis. The Teva-Mylan deal, if materialises, may not have much negative impact on Natco Pharma's revenue as the Indian company may tie up with another player to market the generic version of Capaxone, Mr Pal said.However, a Teva-Mylan combination may hurt Biocon as the Indian company has tie-ups with Mylan for insulin and biosimilars. Teva may not want to continue with this tie-up as it is very advanced in this segment, said Mr Pal.Shares in Biocon closed 4.65 per cent higher at Rs 463.5 apiece and shares in Natco Pharma ended down 5.14 per cent at Rs 2,044.7, against 0.62 per cent gain in Nifty.
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