Indian firm Zydus Cadila purchases two ANDAs from Teva

20 June 2016 (Last Updated June 20th, 2016 18:30)

Indian pharmaceutical company Zydus Cadila has acquired two abbreviated new drug applications (ANDAs) from Israeli-American pharmaceutical company Teva.

Indian pharmaceutical company Zydus Cadila has acquired two abbreviated new drug applications (ANDAs) from Israeli-American pharmaceutical company Teva.

The two ANDAs are being sold out by Teva as a pre-condition to its acquisition of pharmaceutical company Allergan's generic business.

Headquartered in Ahmadabad, India, Zydus has taken over the two Teva ANDAs through its wholly-owned subsidiary Zydus Worldwide DMCC in Dubai.

Financial details of the transaction will be financed through the group's internal accruals and have not been disclosed.

"Zydus is upbeat about the growth potential in the US and will continue to pursue more inorganic opportunities in the US market."

The acquisition includes an ANDA that is already commercialised and one pipeline ANDA, which is a transdermal patch.

According to the Zydus Group chairman and managing director Pankaj R. Patel, the acquisition will play a primary role in helping the company expand its existing portfolio in the US, as well as in strengthening its pipeline of complex generic products.

Pankaj R. Patel said: "Zydus is upbeat about the growth potential in the US and will continue to pursue more inorganic opportunities in the US market."

Zydus Group has made substantial investments in the transdermal manufacturing technology.

The company also acquired a transdermal manufacturing facility in the US a few years previously.

Zydus Cadila employs more than 19,000 people worldwide and discovers, manufactures and markets a wide range of healthcare therapies.