Zydus Lifesciences moves up as its arm acquires UK based LiqMeds Group
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Zydus Lifesciences is currently trading at Rs. 574.85, up by 1.05 points or 0.18% from its previous closing of Rs. 573.80 on the BSE.
The scrip opened at Rs. 580.60 and has touched a high and low of Rs. 580.60 and Rs. 571.00 respectively. So far 8457 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 668.50 on 10-Aug-2023 and a 52 week low of Rs. 390.10 on 22-Nov-2022.
Last one week high and low of the scrip stood at Rs. 589.95 and Rs. 567.85 respectively. The current market cap of the company is Rs. 58065.09 crore.
The promoters holding in the company stood at 74.98%, while Institutions and Non-Institutions held 17.95% and 7.07% respectively.
Zydus Lifesciences through its wholly owned subsidiary Zydus Pharmaceuticals UK, has acquired the UK headquartered LiqMeds Group of companies which has capabilities and specialisation in development, manufacturing and supply of oral liquid products for global markets, which it currently commercializes through partners.
The group’s subsidiary LM Manufacturing (LMML), has an oral liquids manufacturing site at Weedon, Northampton, UK, which supplies products to the US and UK markets. Zydus will pay an upfront consideration of GBP 68 million and yearly earn-outs until 2026 depending on achievement of certain agreed milestones towards acquisition of the LiqMeds Group of companies. The transaction will be EPS accretive for Zydus from the first year of acquisition.
Zydus Lifesciences (formerly known as Cadila Healthcare) is an India-based pharmaceutical company.
