Zydus to sell two brands to PE firm True North's portfolio company

Both drugs, Mifegest Cytolog are used for medical termination of pregnancy

Cadila Healthcare Limited (Zydus Cadila)'s wholly-owned subsidiary Zydus Healthcare Ltd is set to sell two of its brands to one of the portfolio companies of private equity (PE) major True North.

The company informed stock exchanges on Monday that Zydus Healthcare Limited has entered into an agreement with Integrace Private Limited to sell its brands Mifegest and Cytolog.

While Mifegest is an anti-progestational steroid class of drug used for medical termination of pregnancy, cytolog too is used for medical abortion apart from preventing excessive bleeding after delivery.

"The said transaction is expected to be completed within 30 days from the date of execution of agreement subject to customary approvals," the company informed stock exchanges in a filing on Monday.

Part of the portfolio companies of PE firm True North, Integrace's buyout of the two brands is not a related party transaction, Cadila stated.