New Delhi: Cadila Healthcare on Thursday acquired a 50 per cent stake from Bharat Serums and Vaccines in its JV firm - Zydus BSV Pharma - to make the unit a 100 per cent subsidiary.
"The company has purchased 50 per cent shares of Zydus BSV Pharma (Zydus BSV) from Bharat Serums and Vaccines and now Zydus BSV has become 100 per cent subsidiary of Cadila Healthcare," Cadila Healthcare said in a filing to the BSE.
Zydus BSV Pharma, founded in 2005, is a joint venture (JV) company of Cadila Healthcare and biotech firm Bharat Serums and Vaccines (BSV).
Financial details of the transaction are not known. Zydus BSV Pharma develops, manufactures and markets non-infringing and proprietary novel drug delivery system (NDDS) of approved anti-cancer agents for global markets.
It also offers contract manufacturing capabilities based on its modern facility and experience in the oncology injectable product manufacturing area.