Cadila Healthcare pays Rs 1.62 cr for full ownership of Zydus Technologies

Posts 77% dip in consolidated profit before tax for Q2 of FY20

Ahmedabad-based drug maker Cadila Healthcare Ltd (CHL), also known as Zydus Cadila, has announced the acquisition of the remaining 15 per cent stake in its subsidiary Zydus Technologies Ltd (ZTL) for roughly Rs 1.62 crore.

CHL already held 85 per cent in ZTL, which manufactures and markets novel drug delivery system (NDDS) products in the areas of pain relief, hormones and cardiovascular therapy. CHL said in its BSE filing that the acquisition, which has provided an exit route to strategic and minority partner of ZTL, Shared Govil, was valued at $225,000 (roughly Rs 1.62 crore) for 15 per cent equity