Cadila exits from Windlas Healthcare

Cadila announced that the board of directors of the company at a meeting held on April 30, 2020, have signed an agreement for the sale of the shares that it holds of Windlas Healthcare Private Limited (WHPL).

As per the agreement, Cadila will sell 2,31,33,717 equity shares of Rs 10 each fully paid‐up of Windlas Healthcare Private Limited (WHPL) to Windlas Biotech Private Limited (WBPL). These shares represent Cadila’s entitlement to a total of 49 per cent of the total paid-up share of capital of WHPL. Post the completion of the divestment & transaction, Cadila will cease to hold any equity shares in WHPL. The transaction is expected to be completed within 10 business days and a consideration of more than Rs 99 crore is calculated to be received by Cadila.  

Zydus Cadila is an innovative, global pharmaceutical company engaged in the discovery, development, manufacturing and marketing of a broad range of healthcare therapies. The group employs nearly 25,000 people worldwide and is dedicated in creating healthier communities globally. Zydus aspires to be a research-based pharmaceutical company by 2020. The group currently has 285 approvals and has so far, filed over 386 ANDAs since the commencement of the filing process in FY 2003-2004.

On Thursday, the stock of the company closed at Rs 323.95, down by 0.80 per cent or Rs 2.60 per share. The 52-week high is Rs 378 and 52-week low is Rs 206.45 on BSE.