Zydus Lifesciences buys LiqMeds Group for around Rs 689 crore
Zydus will pay an upfront consideration of GBP 68 million (around Rs 689 crore) and yearly earn-outs until 2026 depending on achievement of certain agreed milestones towards acquisition of the LiqMeds Group of companies.
Ahmedabad: Zydus Lifesciences Limited, a discovery-driven, global lifesciences company, through its wholly owned subsidiary Zydus Pharmaceuticals UK Limited, has announced the acquisition of the UK headquartered LiqMeds Group of companies which has capabilities and specialisation in development, manufacturing and supply of oral liquid products for global markets, which it currently commercializes through partners.
The group’s subsidiary LM Manufacturing Limited (LMML), has an oral liquids manufacturing site at Weedon, Northampton, UK, which supplies products to the US and UK markets.
Zydus will pay an upfront consideration of GBP 68 million (around Rs 689 crore) and yearly earn-outs until 2026 depending on achievement of certain agreed milestones towards acquisition of the LiqMeds Group of companies. The transaction will be EPS accretive for Zydus from the first year of acquisition.
Speaking on the development, Managing Director of Zydus Lifesciences Limited, Dr. Sharvil Patel said, “We believe that liquid orals is a large, growing market and serves unmet needs with significant new market expansion opportunities. In line with our patient-centric approach, we believe that oral liquid formulations would help geriatric and paediatric patients, bringing in greater ease of convenience and therapy compliance.”
Medical Dialogues team had earlier reported that Zydus Lifesciences had incorporated a wholly owned subsidiary company namely Zydus Pharmaceuticals (Canada) Inc. in Canada.
Read also: Zydus Lifesciences incorporates wholly owned subsidiary company in Canada
Zydus Lifesciences Ltd. is an innovative, global lifesciences company that discovers, develops, manufactures, and markets a broad range of healthcare therapies. Over the last decade, Zydus has introduced several innovative, first-in-class products in the market for treating unmet healthcare needs with vaccines, therapeutics, biologicals and biosimilars.
