Zydus Lifesciences to acquire a business unit of Watson Pharma for Rs 46.77 crore

Zydus Lifesciences Ltd has entered into a Business Transfer Agreement (“BTA”) for purchase of one of the Business Undertakings of Watson Pharma Private Limited (“Watson”).

Accordingly, the BTA  is on a going concern basis by way of slump sale, without values being assigned to individual assets and liabilities, on cash-free and debt-free basis at a lump-sum consideration of Rs46.77 crore (Rupees Forty Six Crores Seventy Seven Lacs only), subject to certain closing date adjustments as provided in the BTA entered into between the Company and Watson, with effect from such date, and in such manner and on the terms and conditions as mentioned in the BTA.

The Business Undertaking of Watson is engaged in the business of developing, manufacturing, marketing and sale of Active Pharmaceutical Ingredients (“APIs”).

The Business Undertaking was catering to the API requirements of Teva group and there was no external sale to third parties.

At around 9:17 AM, Zydus Lifesciences Ltd is currently trading at Rs407 per share up by Rs1.6 or 0.39% from its previous closing of Rs405.40 per share on the BSE.

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