Zydus to buy Nesher Pharmaceuticals

20-Jun-2011

Will allow Zydus to make and sell generic controlled drugs in the UK

Zydus Pharmaceuticals, a New Jersey, US-based subsidiary of Indian drugmaker Cadila Healthcare, is to buy K-V Pharmaceutical Company’s generics subsidiary Nesher Pharmaceuticals for approximately US$60m in cash. The acquisition will allow Zydus to make and sell generic controlled substances in the US, which otherwise cannot be imported.

The transaction includes Nesher’s existing and future portfolio of generic drugs, certain manufacturing facilities and a research and development centre.

The deal is expected is to close during the second quarter of K-V's 2012 financial year.

KV said the sale is an important element of the company's strategy to become a branded specialist pharmaceutical company focused on women's health.

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