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Cadila Healthcare to Buy Assets of Nesher

By 20/06/2011 No Comments

BANGALORE—Cadila Healthcare Ltd., a part of the Zydus Group, Friday said its U.S. unit has agreed to acquire the assets of U.S.-based pharmaceutical company Nesher Pharmaceuticals Inc. for an undisclosed amount.
Cadila Healthcare said the acquisition of Nesher—the generic unit of KV Pharmaceutical-will allow its U.S. unit to make and sell generic controlled substances in the country, which otherwise cannot be imported.
The acquisition includes Nesher’s existing and future portfolio of generic drugs, certain manufacturing facilities and a research and development laboratory, Cadila Healthcare said in a statement.

The company said the deal entails the assumption of certain liabilities of Nesher, but didn’t elaborate.

Cadila Healthcare Chairman Pankaj Patel said the development gives the company access to a “difficult-to-develop product pipeline, expertise and infrastructure that will add value to our operations in the U.S.”

Nesher’s pipeline of generic drugs includes eight existing filings with the U.S. drug regulator and five products under development.

The deal also includes supply and technical services agreements whereby certain products of KV Pharmaceutical will be manufactured by Zynesher Pharmaceuticals USA LLC, a unit of Zydus Pharmaceuticals USA Inc.

Annual sales of controlled substances medications in the U.S. are estimated at $7 billion, the statement added.

Source: The Wall Street Journal