Zydus Healthcare, a wholly owned subsidiary of Cadila Healthcare, entered into an agreement on Monday, 20 September 2021 with Integrace, the purchaser, to sell two brands viz. Mifegest and Cytolog.
The transaction is expected to be completed within 30 days from the date of execution of agreement subject to customary approvals. The purchaser is a part of the portfolio companies of private equity (PE) firm, True North.
Mifegest is an anti-progestational steroid class of drug used for medical termination of pregnancy while Cytolog tablet is a medicine used for medical abortion.
On a consolidated basis, the drug major posted a 35.2% rise in net profit to Rs 635.50 crore on 14.4% rise in net sales to Rs 3,917.40 crore in Q1 FY22 over Q1 FY21.
Shares of Cadila Healthcare lost 0.43% to Rs 544 on BSE. Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures, and markets a broad range of healthcare therapies.
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