Cadila Healthcare to acquire Windlass Healthcare

Drug manufacturer Cadila Healthcare plans to acquire 51 per cent stake in Windlass Healthcare for Rs 155.55 crore, the company informed on Tuesday.

Through this acquisition, the company aims to expand its pharma manufacturing footprint, said the company's filing to the exchange. The cost of acquisition is Rs. 155.55 crore and the deal will be completed by the end of September 2018

Cadila Healthcare has entered into an agreement to acquire 51 per cent share capital of Windlass Healthcare Private Limited (WHPL). Windlass Healthcare has reported sales of Rs. 33.31 crore for fiscal 2018. Windlass Healthcare has a robust manufacturing infrastructure with USFDA inspected oral solids manufacturing facility.

On Tuesday, the stock has opened at Rs.35.90 per share and touched high/low of 360.40/336.25 and closed at Rs.339.80, down by 4.17 per cent