Zydus Lifesciences shares surged nearly 6% after the company said its board will meet on May 19 to consider a share buyback. The rally also drew steam from its plan to acquire US-based Assertio in a deal valued at about $166 million. Investors cheered the mix of potential capital return and growth through strategic expansion.
Zydus Lifesciences has agreed to acquire Assertio Holdings for $166.40 million, a move aimed at strengthening its position in the U.S. specialty oncology market. The acquisition includes Assertio’s cancer treatment Rolvedon and adds a commercial network that Zydus expects to use to expand and accelerate its oncology initiatives.
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Zydus Lifesciences is reportedly close to buying a US oncology drug maker in a deal valued at $100 to $150 million. The acquisition is expected to help the Indian company build its own distribution network for anti-cancer drugs in the US, while also bringing along the target’s biologic drug pipeline. A deal is expected soon.
Guardant Health plans to launch a new blood-based multi-cancer test in India developed with Zydus Lifesciences. Designed for earlier detection, it can target cancers including lung, breast, and prostate. The move comes as India faces a high cancer burden alongside low routine screening rates, aiming to make screening more accessible and prompt.
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