New Delhi: Zydus Cadila on Thursday said it has acquired Sentynl Therapeutics, a US-based pharma company specialised in marketing of products in the pain management segment.For latest news on Business & Budget 2017, like us on Facebook and follow us on Twitter.
The transaction will be EPS (earnings per share) accretive, Zydus Cadila said in a statement.
With this acquisition, it said the company makes a foray into the specialty pain market in the US valued at $8 billion.
"It gains access to the specialty distribution network and a large prescriber base....This acquisition will also enable the Zydus group to leverage its existing assets in the US," it added.
Speaking on the development Pankaj R Patel, Chairman and Managing Director, Zydus Cadila said: "...the acquisition of Sentynl opens up a new business avenue for us in the specialty prescription segment in the US."
It said the acquisition is solely funded by Bank of Tokyo-Mitsubishi UFJ.
Leerink Partners LLC acted as exclusive financial advisor to Sentynl on the transaction.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)