IN ITS second overseas acquisition this year, Ahmedabad-based Rs
1,800-crore Zydus Cadila has picked up 100% stake in Quimica e
Farmaceutica Nikkho do Brasil Ltda (Nikkho), a mid-sized, privately
held company in Brazil for $25 million.
The profit-making company had posted sales of $26 million for the calendar year 2006.
This strategic acquisition brings in an added advantage of making a foray in the â€˜branded genericsâ€™ business in Brazil for Zydus, which already has a presence in the pure generics market. The $8-billion Brazilian pharma market is the largest of the Latin American markets. The acquisition is being made through Zydus Healthcare Brasil Limitada, the step-down wholly-owned subsidiary of Cadila Healthcare Ltd. An agreement signed today will come into effect after the satisfaction of closing conditions.
Headquartered in Rio de Janeiro, Nikkho is a growing and profitable pharmaceutical company with a manufacturing facility. In existence for over four decades, the company caters exclusively to the Brazilian prescription drugs market. Nikkho has a sales force of 125 people and enjoys rapport with 60,000 medical practitioners. The companyâ€™s product basket comprises therapies across a wide range of therapeutic segments such as general medicine, pediatrics, gynaecology, neurology, gastroenterology, otolaryngology, respiratory, dermatology, and others.
The Rio De Janeiro plant has a production capacity of 4.99 million ampoules/annually of both injectable and oral liquids and 96 million units/annually of tablets. The company currently markets 22 products under 13 different brands.
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