Zydus Cadila has acquired Etna Biotech, the wholly-owned subsidiary of the Dutch biopharma company, Crucell NV. The deal, which marks Zydus Cadila's first acquisition in the research space, offers the group a highly evolved research platform for developing new vaccines and technology.
Crucell, which was focused on biologicals, entered the vaccine space with the acquisition of Berna Biotech, a globally-renowned, specialised vaccine company. Etna was the dedicated research and development with of Berna Biotech.
The need for specialized technology and cutting edge research, has resulted in relatively limited competition and have posed high entry barriers for players in the field of vaccines. With the global vaccine industry forecasted to grow by nearly 18 per cent by 2010, which is roughly three times the growth of the global pharmaceutical industry, research and development of vaccines have emerged as a major focus area in recent times.
Speaking on the new development, Pankaj R Patel, chairman and managing director of Zydus Cadila, said, "As an integrated player in the field of healthcare, we have always been exploring opportunities that can take us to the next level of excellence. With this acquisition we will be at the forefront of innovation for vaccine research and development."
"This transaction is further proof that we are committed to focus on the strengths of our core business and with Zydus as the new owner of Etna we are very pleased that our employees and partners will be in good hands going forward," said Ronald Brus, CEO of Crucell.