Cadila Healthcare’s (Zydus Cadila’s) wholly-owned material subsidiary Zydus Animal Health and Investments (ZAHL) is set to sell its animal healthcare business to a consortium led by Multiples Alternate Asset Management for nearly Rs 3,000 crore.
Zydus Cadila on Wednesday announced ZAHL has entered into a business transfer agreement and other ancillary pacts to sell and transfer its animal healthcare unit to the Multiples-led consortium. The deal is to sell one of the two business undertakings of ZAHL on a slump-sale basis as a going concern, for Rs 2,921 crore on a cash free and debt free basis, subject to certain closing date adjustments and other conditions.
Zydus Cadila to sell its India focused animal health biz for Rs 2,921 cr to Multiples, RARE
By IANS |
Published on
Wed, May 12 2021 12:48 IST |
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Rupee. (File Photo: IANS). Image Source: IANS News
New Delhi, May 12 : Zydus Animal Health and Investments Limited (ZAHL) a wholly owned material subsidiary of Cadila Healthcare Limited, has entered into a Business Transfer Agreement (BTA) and other ancillary agreements to sell and transfer its Animal Healthcare Established Markets Undertaking to Multiples Alternate Asset Management led consortium.
Zydus AH is the animal health business of ZAHL focused on India and certain other countries. The consortium, including Canada Pension Plan Investment Board and RARE Enterprises has agreed to purchase the undertaking through an SPV controlled by them, in the name of Zenex Animal Health India Private Limited.
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Says non-needle antidote will provide wider and longer antibody response
Zydus Cadila is optimistic that its three-dose plasmid DNA vaccine, ZyCoV-D, will offer sustained immunity with longer antibody response. The company expects to launch the antidote “very soon”, even as it completes the advanced Phase-III clinical trials and submits data to the drug regulator for review.
The Covid-19 vaccines presently in India are two-dose vaccines, and Zydus did encounter questions on the economics and logistic complexities involved in a three-dose vaccine. The company, however, stayed the course with its three-dose vaccine, and even indicated that it would be among the most affordable ones. The vaccine will be administered without a needle, intra-dermally.
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