India's Cadila to snap up plant, animal health products from Pfizer spinoff Zoetis
- The major Indian pharmaceutical company Cadila Healthcare will buy a manufacturing site along with a number of animal therapeutic and nutritional products from Zoetis, a large U.S. animal health company that was spun off from pharma giant Pfizer.
- Cadila paid roughly $29 million to Zoetis for the plant and products, bolstering its Zydus Animal Health division. The 10,000 square foot plant is WHO Good Manufacturing Practices (GMP) approved.
- The deal is expected to close sometime in the first quarter of 2016.
In addition to the plant, Cadila will gain the rights to medicated feed additives, anti-infectives, parasiticides, and nutritionals for livestock. Most of these products are already marketed in India. However, Cadila hopes the plant will help its ability to export abroad.
Zoetis has been attempting to cut costs and streamline its business. In May of 2015, it announced plans to cut $300 million in costs by 2017. As part of this, Zoetis expects to eliminate 5,000 lower-revenue products from its portfolio.
Zoetis sold two U.S. manufacturing plants to European animal health company Huvepharma for $40 million back in December of 2015.
- Investis Form 8-K
- Fierce Pharma Cadila to buy Zoetis animal drugs and feed plant in India for $29M
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