PTI
Mumbai: Pharmaceutical firm Zydus Cadila today said it has acquired Italy-based biotechnology firm Etna Biotech for an undisclosed amount.
Etna Biotech is the wholly-owned subsidiary of Netherland-based Crucell NV.
This is the company’s first acquisition in the research space, it would offer a highly evolved research platform for the group to develop new vaccines and technology, Cadila Healthcare, the flagship company of Zydus Cadila Group, said in a filing to the Bombay Stock Exchange.
“With this acquisition we will be at the forefront of innovation for vaccine research and development,” Zydus Cadila CMD Pankaj R Patel said.
Etna Biotech is focused on research, development, production and marketing of vaccines, proteins and antibodies that prevent and treat primarily infectious diseases, it said.
Cadila was trading at Rs 267.90, down 2.24 per cent in afternoon trade on the BSE. PTI SKR KG