The board of directors at Cadila Healthcare on Monday approved the amalgamation of Zydus Technologies Ltd (ZTL), Alidac Pharmaceuticals Ltd (APL), Liva Pharmaceuticals Ltd (LPL) and Dialforhealth India Ltd (DHIL) with Cadila Healthcare Ltd (CHL).
"The amalgamation is being done for consolidation of pharmaceutical business and merger simplification of corporate structure to avoid duplication of effort and to reduce the overheads and costs of managing separate entities," the parent company said in a statement.
ZTL, APL, LPL and DHIL are the wholly-owned subsidiaries of the company. CHL, ZTL, APL and LPL are engaged in the manufacturing and marketing of pharmaceutical products.
The amalgamation is subject to the necessary approvals and sanctions from the National Company Law Tribunal bench at Ahmedabad or such other competent authority besides shareholders and creditors of CHL, ZTL, APL, LPL and DHIL.
Cadila Healthcare makes formulations, active pharmaceutical ingredients, animal healthcare products and wellness products.