Moneycontrol Bureau
Cadila Healthcare shares gained 2 percent intraday Monday after its subsidiary has acquired two ANDAs (abbreviated new drug application) from the US pharma company.
"Two ANDAs have been acquired by 100 percent subsidiary, Zydus Worldwide DMCC and the transaction will be financed through the group's internal accruals," the Ahmedabad-based healthcare company in its filing.
Zydus has strengthened its US portfolio with ANDAs acquisition from Teva that are being divested by Teva as a pre-condition to its acquisition of Allergan's generic business.
The estimated market size of two ANDAs put together is nearly USD 200 Mio.
The acquired portfolio comprises an ANDA which is already commercialised and one pipeline ANDA which is a transdermal patch.
"Zydus has made significant investments in the transdermal manufacturing technology and had also acquired a transdermal manufacturing facility in the US, a few years ago," Pankaj R Patel, CMD of Zydus Group said.
At 11:01 hours IST, the scrip of Cadila Healthcare was quoting at Rs 317.70, up Rs 4.35, or 1.39 percent on BSE.Posted by Sunil Shankar Matkar
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