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INDIA BUSINESS WORLD - NOVEMBER 1st – NOVEMBER 15th 2008
ZYDUS CADILA GROUP BUYS ETNA BIOTECH
THE Rs 2,300-crore Zydus Cadila Group acquired Etna Biotech, a subsidiary of the Dutch Biopharma company, Crucell N.V. The company has not divulged the details of the deal. With the latest acquisition, the company will make its presence felt in the vaccine segment. In a statement, Zydus Cadila CMD Pankaj Patel said, "This acquisition will help us to be at the forefront in the innovation for vaccine research and development. The deal marks company's first acquisition in the research space and offers the group a highly evolved research platform for developing new vaccines and technology." The company is striving for a strong foothold in the lucrative vaccines market. The global vaccine industry is forecast to grow by nearly 18% by 2010, which is roughly three times the growth of the global pharmaceutical industry.
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