In a strategic move, Cadila Healthcare Limited (CHL), a leading global healthcare provider announced that it will be acquiring 51% stake in Dehradun-based Windlas Healthcare Private Limited (WHPL).
Speaking on the development, Managing Director of Cadila Healthcare Limited, Dr. Sharvil Patel said, "We see this as an opportunity to ramp up our operations and increase our product offerings. Windlas Healthcare's cost-efficient manufacturing infrastructure and technical competence to develop a competitive product pipeline will be a great asset for us."
Windlas Healthcare has a robust manufacturing infrastructure with a USFDA inspected oral solids manufacturing facility. WHPL also has a dedicated R&D facility for formulations development and has developed four First-to-File ANDAs in the last two years. The strategic deal allows Cadila Healthcare to expand its existing manufacturing base.
Shares of CADILA HEALTHCARE LTD. was last trading in BSE at Rs.340.05 as compared to the previous close of Rs. 354.55. The total number of shares traded during the day was 909439 in over 25569 trades.
The stock hit an intraday high of Rs. 360.4 and intraday low of 336.25. The net turnover during the day was Rs. 311279894.