Cadila to buy out Sarabhai Enterprises from JV

Cadila Healthcare (Zydus Cadila) will soon acquire 50% stake in its joint venture, Sarabhai Zydus Animal Health, to make it a 100% subsidiary of Zydus Cadila.

Zydus today announced it has entered into a share purchase agreement with Ambalal Sarabhai Enterprises in this regard.

Zydus Cadila had entered into a strategic alliance with Ambalal Sarabhai Enterprises in January 2000 to integrate the animal healthcare business of both the groups under Sarabhai Zydus Animal Health. The JV company markets a wide range of therapies and has a strong presence in the livestock, poultry and companion animal business. With 250 employees, it has a countrywide marketing network. The company also has alliances with Abic, a Teva group Company and Lillydale of U.K.

Sarabhai Zydus Animal Health posted a turnover of Rs 88.87 crore in 2006-07.