Continuing with its strategy of inorganic route to drive its global growth, Ahmedabad-based Zydus Cadila is close to acquiring a mid-size pharma company in Spain for around $30 million. This will be the company’s third overseas acquisition this year.
A company official who has direct knowledge of the deal said, “The due diligence of the company has started and the deal may be completed as early as September.” Zydus Cadila’s has a subsidiary in France and is planning to enter Italy, another key European market.
Zydus Cadila is aggressively pursuing an acquisition-driven strategy for its growth globally. Earlier this year, the company had acquired Nikkho Pharma, a mid-sized company in Brazil for around $26 million and Japanese company Nippon Pharmaceuticals for an undisclosed amount. In addition, the company also acquired a mid-size domestic dermatology company Liva Healthcare.
Read more in TheEconomic Times article.
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