Cadila Healthcare Ltd (Zydus Cadila) on Wednesday announced the acquisition of 100 per cent stake in the Mumbai-headquartered Biochem Pharmaceutical Industries Ltd for an undisclosed financial consideration.
One of the top 40 pharma companies in India, Biochem is a privately-held company and integrated pharma player with a presence in the antibiotics, cardiovascular, anti-diabetic and oncological segments. Biochem had reported Rs 264.5-crore sales for 2010-2011, according to a Zydus Cadila statement.
Established in 1959, Biochem has strengths in manufacturing and marketing of antibiotics. The top five brands of the company — Ampilox, Biotax, Monotax, Amicin and Zithrocin — together contribute 40 per cent to the company’s sales. Three of Biochem’s brands fall in the top 300 pharma brands of India.
The acquisition strengthens Zydus’ operations in the Indian pharma market, said Mr Pankaj R. Patel, Chairman and Managing Director, Zydus Cadila.
He said that Biochem represents the right fit as it has a significant presence in Zydus Cadila’s core therapy areas and also add value to its product offerings in the key growth segments.