The deal will be financed through internal accruals
The Zydus Group, an innovation-led global healthcare provider announced that Zydus Healthcare Limited, a wholly owned subsidiary of Cadila Healthcare Limited has entered into a definitive agreement to acquire "Actibile‟ from Albert David Limited (ADL).
ADL is listed on the Bombay Stock Exchange and is involved in manufacturing and marketing of branded formulations in India and abroad and also has operations in medical disposables.
The brand falls in the gastroenterology segment and is used for dissolving gall bladder stones. The deal will be financed through internal accruals.
Speaking on the development, chairman and managing director of the group, Mr Pankaj R Patel said, "The gastrointestinal segment has been one of our core focus segments and we have been working with the medical fraternity to serve patient needs better. I believe that this acquisition will strengthen our portfolio of brands and leverage our equity in this key segment."