The financial details of the deal remain undisclosed
Zydus Group which is a leading player in the animal health business through its division Zydus Animal Health has announced the strategic acquisition of select brands and the manufacturing operations in Haridwar, India, of Zoetis a global animal health company.
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. The financial details of the deal remain undisclosed.
As a result of this acquisition, Zydus gains access to a wide range of nutrition as well as therapeutic products which have strong brand equity and a combined turnover of Rs. 171 Cr.
A major boost to Zydus‟ portfolio would be the addition of livestock farm care products which are well accepted in the market. Zydus‟ access to the WHO GMP approved manufacturing facility is expected to boost its exports and institutional business. The plant spread over 10,000 sq. meters manufactures Tablets, Liquid Orals and Injectables.
Speaking on the development, chairman and managing director, Zydus Cadila, Mr Pankaj R Patel 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."