Zydus buys part of Zoetis' animal health business for undisclosed sum

India-based Zydus Group, part of Zydus Wellness (BOM: 531335), said it has via its animal health unit acquired select brands and the manufacturing operations in Haridwar, India, from US-based Zoetis (NYSE: ZTS) in a bid to expand its animal health business in India and gain access to manufacturing operations which have also been catering to global markets. No financial details were disclosed.

Chairman of Zydus Cadila Pankaj Patel said: “We believe that this strategic acquisition will strengthen our portfolio of brands and add new dimensions to our growth in the animal health business. We see this as an opportunity to catapult our business to higher levels of excellence.”

The company said the deal gives it access to a wide range of nutrition as well as therapeutic products which have strong brand equity and a combined turnover of 1.71 billion rupees ($25.6 million). Addition of livestock farmcare products well accepted in the market will provide its portfolio a major boost, Zydus said. The company expects the access to the WHO GMP approved manufacturing facility to boost its exports and institutional business. The facility manufactures tablets, liquid orals and injectables.