Cadila acquires Italian vaccine research company Etna BiotechNovember 11th, 2008 - 5:08 pm ICT by IANS
Ahmedabad, Nov 11 (IANS) Leading Indian healthcare major Zydus Cadila said in a regulatory statement here Tusday that it has acquired Italy-based Etna Biotech, a wholly owned subsidiary of the Dutch biopharma company, Crucell N.VThe financial details of the deal were not disclosed.
Headquartered in Catania, Italy, Etna Biotech focuses on research and development of vaccines, the statement said.
“As an integrated player in the field of healthcare, we have always been exploring opportunities that can take us to the next level of excellence,” Zydus Cadila’s chairman and managing director Pankaj R. Patel said in the statement.
“With this acquisition we will be at the forefront of innovation for vaccine research and development,” the statement said quoting Patel.
Crucell, which was focused on biologicals, entered the vaccine space with the acquisition of Berna Biotech, a globally renowned, specialized vaccine company. Etna was the dedicated research and development wing of Berna Biotech.
Zydus Cadila is an innovative global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare products. The group’s operations range from active pharmaceutical ingredients (API) to formulations, animal health care products and cosmeceuticals.
Headquartered here, the group has global operations in four continents spread across the US, Europe, Japan, Brazil, South Africa and 25 other emerging markets.
The company employs more than 9,500 people worldwide and reported consolidated revenues of Rs.23.6 billion ($590 million) in the year ended Mar 31, 2008.