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Healthcare player, Zydus Group on Monday announced acquisition of Actibile from Albert David Limited through its flagship company, Cadila Healthcare Limited. The company has entered into a definitive agreement to acquire the gastroenterology segment, which is used for dissolving gall bladder stones.
The company did not disclose the value of the transaction. However, it stated that the deal, which would strengthen Zydus' presence in the gastroenterology segment, will be financed through internal accruals.
Speaking on the development, Chairman and Managing Director of the group, 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."
The shares of Cadila Healthcare fell by 0.44 per cent to close at Rs 318.90 on the Bombay Stock Exchange (BSE) on Monday.
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