Cadila Healthcare wraps up Rs 29.2bn sale of animal healthcare business

Cadila Healthcare said that it has completed its previously announced sale of Zydus Animal Health and Investments to Zenex Animal Health India (formerly Nutrizvit Animal Health India).

The consideration of the deal announced in May 2021 is INR 2,921 crores.

Zydus Animal Health and Investments has been one of the key players in the Indian animal health industry with top positions in antimicrobials, anti-mastitis, vitamin injections, hormones, corticosteroids, and intra-mammary segments.

The company is said to maintain a strong footprint in poultry vaccines, anti-coccidials, antibiotic growth promoters, nutritionals, and others.

Cadila Healthcare wraps up Rs 29.2bn sale of animal healthcare business. Photo courtesy of Anita starzycka from Pixabay.

Cadila Healthcare said that Zydus Animal Health and Investments had been assessing multiple strategic options to create synergy in the operations of its business in order to fast track its growth and boost operational efficiencies. In the process, the animal health company is said to have found it commercially wise to transfer its business to Zenex Animal Health India.

Zydus Animal Health and Investments expects to continue pursuing business opportunities in the US and some of the European countries through animal healthcare emerging markets undertaking.

Zenex Animal Health India was incorporated in March 2021 as a special purpose vehicle by Multiples Alternate Asset Management Private Limited and other investors with an objective to undertake animal healthcare business.