Zydus Lifesciences Ltd enters into BTA for purchase from Watson Pharma Pvt Ltd

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") 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 Rs. 46.77 crores (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.

Shares of Cadila Healthcare Limited was last trading in BSE at Rs. 405.40 as compared to the previous close of Rs. 399.10. The total number of shares traded during the day was 20267 in over 977 trades.

The stock hit an intraday high of Rs. 408.50 and intraday low of 399.05. The net turnover during the day was Rs. 8224806.00.

Source : Equity Bulls

Keywords

ZydusLifesciences INE010B01027 BTA BusinessUndertaking WatsonPharma SlumpSale