Zydus acquires gastro drug 'Actibile' from Kolkata-based Albert David

This is the Group's second acquisition this year after it had acquired select brands of Zoetis in January

Ahmedabad-based pharma major Cadila Healthcare has acquired Actibile, a gastroenterology brand from Kothari Group company Albert David for an undisclosed sum. The deal will be financed through internal accruals.

The company today said in a statement that Zydus Healthcare Limited, a wholly owned subsidiary of Cadila Healthcare Limited has entered into a definitive agreement to acquire 'Actibile' from Albert David Limited (ADL).

The brand falls in the gastroenterology segment and is used for dissolving gall bladder stones.

Speaking on the development, chairman and managing director of Zydus Group, Pankaj R Patel said, "The gastrointestinal segment has been one of our core focus segments and we have been working with the medical fraternity to serve patient needs better. I believe that this acquisition will strengthen our portfolio of brands and leverage our equity in this key segment."

Albert David Limited, a Bombay Stock Exchange (BSE) listed company, is the pharmaceutical venture of the Rs 2,000 crore Kothari Group, a Kolkata head-quartered industrial group. Kothari Group has a significant presence in pharmaceuticals, machine tools, tea plantations and healthcare.

Albert David Limited is involved in manufacturing and marketing of branded formulations in India and abroad and also has operations in medical disposables.

Earlier this year, Zydus had acquired select brands and the Haridwar manufacturing unit of Zoetis, which was spun off Pfizer in 2013, for an undisclosed sum.

With an eye on the growing animal health market in India and globally, Ahmedabad-based integrated pharmaceutical player felt that the acquisition will help Zydus expand its animal health business in India and gain access to manufacturing operations which have also been catering to global markets. As a result of the acquisition, Zydus gained access to a wide range of nutrition as well as therapeutic products which have strong brand equity and a combined turnover of Rs 171 crore.

Cadila Healthcare's shares ended at Rs 318 per share on the BSE, down 0.7 per cent.