Zydus Completes USD 166.4 Million Acquisition of US-Based Assertio Holdings
New Delhi: Zydus Lifesciences on Tuesday said it has completed the USD 166.4 million acquisition of US-based pharma company Assertio Holdings Inc.
The company has successfully completed the cash tender offer, through wholly-owned subsidiary, Zara Merger Sub Inc, for all the outstanding shares of common stock of Assertio Holdings Inc, Zydus Lifesciences said in a regulatory filing.
Assertio has become a wholly-owned subsidiary of the company. The common stocks of Assertio are no longer listed or traded on the Nasdaq Global Market, it added.
In May, Zydus Lifesciences announced that it would acquire Assertio Holdings for a total consideration of $166.4 million (over ₹1,590 crore).
Zydus Worldwide DMCC, a subsidiary of the company, signed a definitive agreement, through its wholly-owned acquisition arm Zara Merger Sub Inc, with Assertio Holdings to acquire all outstanding shares of Assertio for $23.50 per share in cash.
Assertio is focused on speciality and oncology supportive care therapies.
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