Cadila Healthcare today said that its US unit has agreed to acquire the assets of US-based pharmaceutical company Nesher Pharmaceuticals for an undisclosed sum.
Cadila Healthcare, headquartered at Ahmedabad, said the acquisition of Nesher--the generic unit of KV Pharmaceutical--will allow its US unit to make and sell generic controlled substances in the country, which otherwise cannot be imported.
The acquisition includes Nesher’s existing and future portfolio of generic drugs, certain manufacturing facilities and a research and development laboratory, the company informed the Bombay Stock Exchange (BSE).
Annual sales of controlled substances medications in the US are estimated at US Dollar 7 billion.
The company has an equity capital of Rs 102.17 crore. UNI
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