Zydus Cadila acquires Italy-based Etna Biotech
Zydus Cadila acquires Italy-based Etna Biotech
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 ₹ 267.90, down 2.24 per cent in afternoon trade on the BSE. PTI SKR KG
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