Cadila Healthcare in limelight after acquisition of two ANDAs

Cadila Healthcare acquires two Abbreviated New Drug Applications (ANDA) from Teva on June 20. The company’s acquisition of these ANDAs is contingent on the closing of the Teva-Allergan Generics transaction and approval by the US Federal Trade Commission.

Cadila Healthcare’s subsidiary, Zydus Worldwide DMCC and the fund requirement for the acquisition will be processed through its internal accruals. The acquired portfolio company has an ANDA, which is already commercialised and one is in the pipeline, which is a transdermal patch. The estimated market size of the two ANDAs put together is about USD 200 million (Rs 13480 million).

According to Cadila Healthcare's management, the company’s US portfolio will become stronger after acquisition. It has also made significant investments in the transdermal manufacturing technology and had also acquired a transdermal facility in the US, few years ago. Cadila Healthcare is also keen on taking up more inorganic opportunities in the US market.

The share price of Cadila Healthcare has increased by 2.12 per cent on bourses in early trades and is trading at Rs 315.55 on an intraday basis.

Cadila Healthcare is primarily engaged in the business of manufacturing and marketing of pharmaceutical products, both active pharmaceutical ingredients and finished dosage formulations. The company is also involved in basic new drug discovery research, and several other newer technology products. It has operations in approximately 15 countries around the world.