Cadila Healthcare today announced the acquisition of 100% stake in Tokyo-based Nippon Universal Pharmaceutical.
According to a release issued by Zydus to the BSE today, Nippon reaches out to more than 4,000 hospitals and clinics, and is expected to provide a fillip to the group's operations in a market that is highly complex and dominated by local pharma Companies.
Pankaj R Patel, chairman and managing director, Zydus, said: "We had announced our intentions of being a long-term player in this market when we set up our subsidiary last year. Going forward, I believe this acquisition will unlock value for us as the generic market in Japan is just opening up, and post-2010 we expect this market to be a major growth driver for our global business."
Read the article in Business Standard.
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