Business Daily from THE HINDU group of publications
Saturday, Mar 17, 2007
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Business Daily from THE HINDU group of publications Saturday, Mar 17, 2007 ePaper |
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Corporate
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Mergers & Acquisitions Zydus enters derma-care segment thru Liva buy Our Bureau
Mumbai March 16 The Rs 1,800-crore drug-maker Zydus Cadila has acquired Mumbai-based Liva Healthcare, a mid-sized pharmaceutical company. The acquisition marks Zydus' entry into the Rs 1,500-crore derma-care or skin-related products segment, touted to be the seventh largest therapeutic area in the domestic market. The Zydus Group has acquired 97.5 per cent stake in the privately-held company and the all cash transaction will be funded through cash accruals and debt, the company said, without divulging financial details. A profit-making company, Liva expects to post sales in excess of Rs 37 crore in 2006-07, a note from Zydus said. The company has a sales-force of over 300 people and the acquisition also includes Liva's manufacturing facility at Sinnar, near Nasik. A lion's share of Liva's therapeutic coverage is derma-products. The company also has a strong presence in the respiratory segment that accounts for 24 per cent of its product portfolio. Zydus' domestic business of finished medicines contributes over 50 per cent of the group's turnover with as many as 17 brands among the top 300 pharma brands in India, the company said. The group has a presence in the cardiovascular, gastrointestinal and women's healthcare segments, besides the respiratory, pain management and anti-infective segments.
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