Gastro drug Actibile acquired by Zydus Healthcare
New Delhi : Zydus Healthcare, a subsidiary of Cadila Healthcare, has acquired gastrointestinal brand 'Actibile' from drug firm Albert David for an undisclosed amount.
Zydus Healthcare has entered into a definitive agreement to acquire Actibile from Albert David Ltd, Cadila Healthcare said in a regulatory filing.
The brand falls in the gastroenterology segment and is used for dissolving gall bladder stones. The deal will be financed through internal accruals, it added.
"The gastrointestinal segment has been one of our core focus segments and we have been working with the medical fraternity to serve patient needs better, I believe this acquisition will strengthen our portfolio of brands and leverage our equity in this key segment", Zydus group Chairman and Managing Director Pankaj R Patel said.
The company however did not share financial details.
The BSE-listed Albert David Ltd is the pharmaceutical venture of the Rs 2,000 crore Kothari Group, a Kolkata-based industrial group.
Albert David is involved in manufacturing and marketing of branded formulations in India and abroad and also has operations in medical disposables.