New Delhi, Mar 16 (UNI) Cadila Healthcare Ltd today acquired 97.5 per cent stake in Mumbai-based Live Healthcare, a mid-sized pharma company with a Derma focussed product portfolio, for an undisclosed amount.
The all cash transaction will be funded through cash accruals and debt, the company said.
With this strategic acquisition, the company establishes its presence in the Rs 1,500 crore derma segment which is the seventh largest therapeutic segment in the domestic pharma market, it added.
The market for dermatology products has grown at CAGR of 14.1 per cent over the last three years.
''This acquisition unlocks great value for the group as it enables us to extend our expertise in a new therapy segment. We see this as an opportunity to fortify our presence in the Indian pharma market and lead by extending our reach,'' company Chairman and Managing Director Pankaj R Patel said.
A profit making company, Liva is likely to post sales in excess of Rs 37 crore in 2006-07.
Derma products constitute 56 per cent of its therapeutic coverage. Liva also has a good presence in the respiratory segment which accounts for 24 per cent of its TA coverage.
With 325 medical representatives and a nationwide reach, Liva has a strong equity with dermatologists, cosmetologists and physicians, the company said.
The acquisition also includes Liva's GMP compliant manufacturing facility at Sinnar, near Nasik.
UNI
The all cash transaction will be funded through cash accruals and debt, the company said.
With this strategic acquisition, the company establishes its presence in the Rs 1,500 crore derma segment which is the seventh largest therapeutic segment in the domestic pharma market, it added.
The market for dermatology products has grown at CAGR of 14.1 per cent over the last three years.
''This acquisition unlocks great value for the group as it enables us to extend our expertise in a new therapy segment. We see this as an opportunity to fortify our presence in the Indian pharma market and lead by extending our reach,'' company Chairman and Managing Director Pankaj R Patel said.
A profit making company, Liva is likely to post sales in excess of Rs 37 crore in 2006-07.
Derma products constitute 56 per cent of its therapeutic coverage. Liva also has a good presence in the respiratory segment which accounts for 24 per cent of its TA coverage.
With 325 medical representatives and a nationwide reach, Liva has a strong equity with dermatologists, cosmetologists and physicians, the company said.
The acquisition also includes Liva's GMP compliant manufacturing facility at Sinnar, near Nasik.
UNI
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