Zydus Acquires Unit Of US-Based Nesher Pharma
Zydus Pharmaceuticals USA Inc., a wholly owned subsidiary of Ahmedabad-based Cadila Healthcare Ltd, has acquired a unit of US-based Nesher Pharmaceuticals Inc. for an undisclosed amount.
The newly acquired unit, Nesher Pharmaceuticals Inc. Assets, consists of new and existing abbreviated new drug applications manufacturing facilities, as well as a research and development laboratory. With this acquisition, Zydus will be able to manufacture and distribute generic controlled substances in the US market.
“We believe this new development gives us access to a different–to-develop product pipeline, expertise and infrastructure that will add value to our generic operations in the USA,” said Pankaj R. Patel, chairman and managing director of Zydus Cadila.
Cadila Pharmaceuticals focuses on various areas, such as formulations (human & veterinary), new drug discovery, novel drug delivery, pharmaceutical ingredients, analytical research, phytochemistry, biotechnology, plant tissue culture, etc. The company markets its products through agents, wholesalers, and pharmacies.
Recently, Zydus Cadila and Bayer HealthCare (a part of Bayer AG with annual sales of more than $22.5billion) have signed an agreement to set up the joint venture company Bayer Zydus Pharma for the sales and marketing of pharmaceutical products in India. The company has also entered into JV agreement with US-based vaccine maker Novavax Inc. to develop, manufacture and market vaccines, pharmaceuticals and diagnostic products in India.
Earlier, Zydus Cadila completed the acquisition of South Africa-based Simayla Pharmaceuticals. Zydus, which has acquired 70 per cent stake in Simayla in 2008, bought the remaining 30 per cent stake. It also acquired Alpharma France (the French affiliate of one of the world’s largest generic companies) in 2003, Nippon Universal Pharmaceuticals Ltd of Japan and Quimica e Farmaceutica Nikkho do Brasil Ltd of Brazil in 2007, and Laboratorios Combix of Spain in 2008.
In a welcome move, the Ministry of Corporate Affairs on 19 July 2016 issued a notification amending the Compan