Zydus Cadila forays into specialty pain market in the US.
AB Wire
Zydus Cadila has acquired Sentynl Therapeutics, a Solana Beach, California-based pharma company who specialized in marketing of products in the pain management segment.
The transaction will be EPS (earnings per share) accretive, Zydus Cadila said in a statement, reported Business Standard.
With this acquisition, it said the company makes a foray into the specialty pain market in the US valued at $8 billion.
“It gains access to the specialty distribution network and a large prescriber base….This acquisition will also enable the Zydus group to leverage its existing assets in the US,” it added.
Speaking on the development Pankaj R Patel, Chairman and Managing Director, Zydus Cadila said: “…The acquisition of Sentynl opens up a new business avenue for us in the specialty prescription segment in the US.”
It said the acquisition is solely funded by Bank of Tokyo-Mitsubishi UFJ.
Matt heck is Sentynl Therapeutics’ co-founder, President and Chief Executive Officer. He is also a member of the Board of Directors. Prior to Sentynl, Heck co-founded Victory Pharmaceuticals and served as its President and CEO and acted as a member of its Board of Directors.