Zydus Cadila arm to acquire US specialty pharma firm Nesher
17 June 2011
Zydus Cadila has agreed to acquire US-based specialty pharmaceuticals company Nesher Pharmaceuticls Inc, to enter a $7 billion market for specialty pharmaceutical products in the US.
Zydus Paharmaceuticals USA, Inc is making the acquisition through its subsidiary Zyneshar Pharmaceuticals USA LLC, which has entered into an agreement to acquire the assets of Nesher Pharmaceuticals Inc.
St Louis, Missouri-based Nesher Pharmaceuticals is a generic subsidiary of K V Pharmaceuticals.
Nesher has considerable expertise in niche therapies, which have development or production barriers, such as controlled release medications or DEA-controlled substances, Cadila said in a stock exchange filing.
Under the agreement, Zydus will acquire Nesher's existing pipeline ANDAs, certain manufacturing facilities and a full-fledged R&D lab while also assuming some liabilities of Nesher.
The company, however, did not disclose financial details of the deal.