Zydus Lifesciences shares fall 2% as firm acquires US-based Assertio Holdings for $166 million

In an exchange filing released on Tuesday, Zydus Lifesciences said that it has successfully completed the cash tender offer through its wholly-owned subsidiary, Zara Merger Sub Inc, for all the outstanding shares of common stock of Assertio Holdings Inc.

Following the acquisition, Assertio has become a wholly-owned subsidiary of the company. The common stocks of Assertio are no longer listed or traded on the Nasdaq Global Market, it added.

Also Read | Zydus Lifesciences completes acquisition of Assertio

Back in May this year, Zydus Lifesciences had announced that it has entered into an agreement to acquire US-based pharma company Assertio Holdings for $166.40 million. Assertio is focused on speciality and oncology supportive-care therapies.

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“Zydus Worldwide DMCC, a subsidiary of the company, has signed a definitive agreement, through its wholly owned acquisition subsidiary Zara Merger Sub Inc, with Assertio Holdings to acquire all outstanding shares of Assertio for $23.50 per share in cash,” according to the statement.

Also Read | Zydus Lifesciences announces $166 mn Assertio acquisition

This comes after The Economic Times reported that Zydus Lifesciences is close to acquiring a US-based drugmaker. Sources in the investment banking circles told ET that Zydus will get a boost since the target company has its own pipeline of biologic drugs. For several months, Zydus Lifesciences has been looking at ways to grow its pipeline of innovative drugs. It was also seen in discussions with Ardelyx a few months ago, but the talks did not materialise. “Zydus has been in discussions with at least three companies,” the source mentioned.

Zydus Lifesciences shares have fallen 2% in one week but gained 7% in one month and 18% in 2026 so far. In the longer term, the shares of the company have gained 13% in one year, 96% in three years and more than 74% in five years.

The company has a market capitalisation of nearly Rs 1.09 lakh crore. The stock’s P/E ratio stands at around 22x.

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