Major Indian pharmaceutical company Zydus Lifesciences Limited revealed that it had purchased the UK-based LiqMeds Group of firms. Zydus Pharmaceuticals UK Limited, a wholly-owned subsidiary of Zydus, completed the transaction, the business reported in a stock exchange filing. LiqMeds has capabilities and specialisation in development, manufacturing and supply of oral liquid products for global markets, which it currently commercialises through its partners.
The group’s subsidiary LM Manufacturing Limited (LMML), has an oral liquids manufacturing site at Weedon, Northampton, UK, which supplies products to the US and UK markets.
In order to acquire the LiqMeds Group of enterprises, Zydus has agreed to pay an upfront fee of GBP 68 million as well as annual earnouts until 2026, contingent upon the fulfilment of specific milestones. As soon as Zydus completes the acquisition, the deal will increase its earnings per share.
Dr Sharvil Patel, managing director, Zydus Lifesciences Limited, said, “We believe that liquid orals is a large, growing market and serves unmet needs with significant new market expansion opportunities. In line with our patient-centric approach, we believe that oral liquid formulations would help geriatric and paediatric patients, bringing in greater ease of convenience and therapy compliance.”