Zydus Cadila acquires select animal health brands of Zoetis; shares up almost 3%

Zydus Cadila has expanded its animal health business with the acquisition of some select brands and a Haridwar-based manufacturing facility of Zoetis, a global animal health company, for an undisclosed amount.

"The Ahmedabad-based group has acquired select brands and the manufacturing operations in Haridwar of Zoetis," Zydus Cadila on Tuesday said in a statement.

The acquisition will help Zydus expand its animal health business in India and gain access to manufacturing operations which have also been catering to global markets, it said.

"We believe that this strategic acquisition will strengthen our portfolio of brands and add new dimensions to our growth in the animal health business. We see this as an opportunity to catapult our business to higher levels of excellence," Zydus Cadila Chairman and Managing Director Pankaj R Patel said.

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The companies, however, did not share financial details of the deal.

As a result of the acquisition, Zydus gains access to a wide range of nutrition as as well as therapeutic products which have strong brand equity and a combine turnover of Rs 171 crore.

A major boost to Zydus' portfolio would be the addition of livestock farm-care products which are well accepted in the market, the company said.

Besides, the company's access to WHO GMP approved manufacturing facility is expected to boost its exports and institutional business.

The plant spread over 10,000 square metres manufactures tablets, liquid orals and injectables among others.

Zydus Animal Health is the country's leading animal healthcare player and market leader in various therapeutic segments including antibacterials, antimastitis, tonics and poultry vaccines.

Cadila Healthcare shares were trading at Rs 322.15 a piece on the BSE on Wednesday , up 2.74%, or Rs 8.60 at 1215 hours.