Cadila Healthcare buys German firm from ICICI Venture

Cadila Healthcare Ltd has signed a share purchase agreement with ICICI Venture to acquire 100 per cent shareholding of Finest Procuring Solutions Ltd, which in turn holds cent per cent shareholding of Bremer Pharma GmbH of Germany.

The deal, signed through Cadila’s 100 per cent subsidiary, Zydus Animal Health Ltd, includes the transfer of all key assets, people, brands and export contracts of Bremer.

After acquisition, Zydus AHL will be able to expand its animal health business and gain strategic access to the key markets across Europe, South America, Asia and Africa. The global animal health business is valued at $20 billion (Rs 88,170 crore).

Pankaj Patel, CMD said, “Bremer’s high quality, generic veterinary pharmaceutical business and extensive presence in global markets will help us leverage our strengths and add new dimensions to our growth in the animal health business. We see this as an opportunity to catapult our business to higher levels of excellence.”

Apart from an extensive network of distributors in over 50 countries, Bremer has well-established research facilities and infrastructure for manufacturing powders, tablets, liquid and parenterals in Warburg-Scherfede, Germany.

Zydus AHL is India’s leading animal healthcare company and a market leader in various therapeutic segments, including antibacterials, antimastitis, tonics and poultry vaccines.