Zydus Cadila, an Ahmedabad-based pharmaceutical company, has completed the acquisition of South Africa-based Simayla Pharmaceuticals. Zydus, which has acquired 70% stake in Simayla in 2008, has now bought the remaining 30% stake. The transaction was concluded through the Ahmedabad-based firm's subsidiary, Zydus Healthcare SA Pty Ltd.
Simayla has a strong presence in the cardiovascular, anti-infective, respiratory and women’s healthcare segment in South Africa.
Post this acquisition, Simayla becomes a 100% subsidiary of Cadila group company, Cadila Healthcare Ltd, said the company in a statement. It now plans to consolidate its position in key markets. “We will be stepping up our plans for growth in line with our global strategies and looking at long term initiatives that reaffirm our commitment of being an ethical healthcare provider,” added the statement.
Zydus Cadila has been continuously expanding and consolidating its global business. The group has been looking at long term revenue growth through both organic and inorganic routes. It had 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. Besides, the company has entered into joint venture agreement with US-based vaccine maker Novavax Inc to develop, manufacture and market vaccines, pharmaceuticals and diagnostic products in India.