Cadila Healthcare BOD approves transfer of Animal Healthcare Business to Zydus Animal Health and Investments Limited
New Delhi: Cadila Healthcare Ltd. has recently announced that the Board of Directors at its meeting, has approved the transfer of Animal Healthcare Business ("AHB") of the Company, on a going concern basis, to its wholly-owned subsidiary Zydus Animal Health and Investments Limited ("ZAHL") through execution of a Definitive Agreement.
AHB consists of the business of development, manufacturing, marketing and selling of Animal Healthcare products in India and other countries.
The transfer of AHB to ZAHL is subject to satisfaction of certain conditions precedent as provided in the Definitive Agreement.
Cadila Healthcare Ltd (Zydus Cadila) is an Indian pharmaceutical company headquartered at Ahmedabad, Gujarat state of western India. The company is one of the leading pharmaceutical companies in India, with INR 119.05 Billion revenue (2018).
It is a manufacturer of generic drugs. In 2019, injectable ketorolac tromethamine manufactured by Zydus (Cadila Healthcare) was recalled due to microbial growth.
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