Zydus acquires UK based LiqMeds® Group

Zydus Lifesciences Limited (including its subsidiaries/affiliates hereafter referred to as "Zydus") a discovery-driven, global lifesciences company, through its wholly owned subsidiary Zydus Pharmaceuticals UK Limited, announced the acquisition of the UK headquartered LiqMeds Group of companies which has capabilities and specialisation in development, manufacturing and supply of oral liquid products for global markets, which it currently commercializes through partners. The group's subsidiary LM Manufacturing Limited (LMML), has an oral liquids manufacturing site at Weedon, Northampton, UK, which supplies products to the US and UK markets. Zydus will pay an upfront consideration of GBP 68 million and yearly earn-outs until 2026 depending on achievement of certain agreed milestones towards acquisition of the LiqMeds Group of companies. The transaction will be EPS accretive for Zydus from the first year of acquisition.

Speaking on the development, Managing Director of Zydus Lifesciences Limited, Dr. Sharvil Patel said, "We believe that liquid orals is a large, growing market and serves unmet needs with significant new market expansion opportunities. In line with our patient-centric approach, we believe that oral liquid formulations would help geriatric and paediatric patients, bringing in greater ease of convenience and therapy compliance."

Shares of Zydus Lifesciences Limited was last trading in BSE at Rs. 573.80 as compared to the previous close of Rs. 579.85. The total number of shares traded during the day was 6987 in over 532 trades.

The stock hit an intraday high of Rs. 589.95 and intraday low of 572.25. The net turnover during the day was Rs. 4036389.00.

Source : Equity Bulls

Keywords

ZydusLifesciences INE010B01027 UK LiqMedsGroup Acquisition