ManagementZydus completes acquisition of Simayla Pharma
Healthcare major Zydus Cadila has bought the remaining 30 per cent stake in South Africa-based Simayla Pharmaceuticals for an undisclosed sum, making it a 100 per cent subsidiary of the group.
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Zydus Healthcare SA, a 100 per cent subsidiary company of Cadila Healthcare Ltd, had acquired a majority stake of 70 per cent shareholding in Simayla in 2008. The company today notified the stock exchanges that Zydus Healthcare has acquired the remaining 30 per cent shareholding of Simayla Pharmaceuticals (Proprietary) Ltd from the co-promoters.
The company has a strong presence in the cardiovascular, anti-infective, respiratory, central nervous system (CNS), gastrointestinal and women’s healthcare segments. Simayla markets 76 stock-keeping units (SKUs) with 59 per cent of its products falling in the chronic segment and the rest in the acute segment.
“Zydus exports products from its Moraiya facility near Ahmedabad to the South African market and we plan to launch at least 10 new products in South Africa next year,” a company spokesperson said, adding it had already filed 50 dossiers for approval there.
Commenting on the development, Pankaj R Patel, chairman and managing director of the group, said: “We look forward to consolidating our position in this key market and will be stepping up our plans for growth in line with our global strategies.”