20 August 2018 | News
The acquisition will help the company expand its pharmaceutical manufacturing footprint.
Image credit- timbimat.com
Cadila Healthcare Ltd, which operates under the Zydus Cadila brand, has agreed to acquire a 51 per cent stake in pharmaceuticals company Windlas Healthcare Pvt. Ltd for Rs 155.5 crore. The acquisition will help the company expand its pharmaceutical manufacturing footprint.
Windlas Healthcare is a subsidiary of Windlas Biotech Pvt. Ltd, which is backed by private equity firm Tano Capital. Tano had invested $12.96 million in Windlas Biotech in 2015.
Windlas Healthcare, which was set up in February 2010, develops and market pharmaceutical products and formulations. The company clocked revenue of Rs 33.31 crore in the year ended 31 March 2018 compared with Rs 27.67 crore and Rs 29.12 crore in 2016-17 and 2015-16, respectively. It recorded a net profit of Rs 5.37 crore in the last financial year.