Cadila Healthcare Ltd (Zydus Cadila) has acquired 51 per cent stake in Dehradun-based Windlas Healthcare Pvt Ltd (WHPL) for a sum of Rs 155.55 crore, the company informed.

The acquisition, all in cash, will be completed by the end of September 2018. WHPL has reported sales of Rs 33.31 crore for fiscal 2018.

"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," said Sharvil Patel, Managing Director, Cadila Healthcare Ltd. 

In a stock exchange filing today, Cadila Healthcare said that Windlas Healthcare has a robust manufacturing infrastructure with 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," the company said. 

At the board meeting held on Monday, the company announced a standalone net profit of Rs 310 crore for the period ended June 2018 against Rs 91 crore reported in the same period last year, indicating a growth of over 240 per cent on year-on-year basis. 

Standalone total revenues for the three-month under review stood at Rs 1,505 crore, against Rs 1,055 crore in the corresponding period last year. 

On a consolidated basis, the company posted a net profit of Rs 461 crore on total revenues of Rs 2,894 crore. Consolidated net profit grew 233 per cent from Rs 138 crore in the corresponding quarter a year ago with a total revenue of Rs 2,235 crore.

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