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Torrent Pharma aims to acquire Zyg Pharma for an undisclosed sum

The drug firm Torrent Pharmaceuticals has signed an agreement to fully acquire Zyg Pharma for an undisclosed amount.

Torrent Pharmaceuticals in a filing to the BSE said, “The company has signed a share purchase agreement to acquire 100 per cent stake in Zyg Pharma Pvt Ltd, a company engaged in manufacturing various dermatological formulations like creams, ointments, gels, lotions and solutions.”

“Torrent will fund acquisition through internal accruals,” the company said. “The transaction has been approved by the Board of Directors of both the companies,” it added.

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