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Zydus Lifesciences, an Indian pharmaceutical company, has announced its plan to acquire 85.6% stake in Amplitude Surgical, a French company specializing in surgical technologies for lower-limb orthopedics, for €256.8 million. This acquisition is in line with Zydus’s strategy to expand its presence in the global medical devices sector.
The deal represents a significant 81% premium over Amplitude Surgical’s last closing price, making it a premium offer in the industry. The acquisition comes at a time when India’s pharmaceutical industry is facing potential US import taxes on pharmaceuticals, which has been a major concern for Indian companies. The US remains Zydus Lifesciences’ largest market, contributing 47% of its total revenue.
While Zydus Lifesciences primarily focuses on manufacturing generic drugs, it has been diversifying its portfolio by expanding into specialty drugs and medical technology to drive long-term growth. The acquisition of Amplitude Surgical is seen as a strategic move to drive growth, with potential opportunities in portfolio, capabilities, manufacturing, and geographies.
Amplitude Surgical has a strong international presence, operating in over 30 countries, and employs 428 people, with sales of nearly €106 million as of June 2024. The acquisition aims to strengthen Zydus’s position in the medical devices industry and expand its global reach.
According to Sharvil Patel, Managing Director of Zydus Lifesciences, “In Amplitude Surgical, we see several medium-term and long-term growth opportunities with respect to portfolio, capabilities, manufacturing, and geographies.” The acquisition is expected to provide Zydus with a strong platform to drive growth, particularly in the orthopedic surgery segment. With this deal, Zydus aims to maintain its position as a dominant player in the global pharmaceutical industry.