Within a fortnight after the acquisition of Spain's Laboratorios Combix, Cadila Healthcare has bought Simayla Pharmaceuticals of South Africa. Cadila Healthcare thorough its unit Zydus Healthcare effected the deal. Now it has 70% stake in the company. Cadila is hopeful that deal will bring more revenue to the company as the African firm recorded revenue of 18.6 million South African rand in 2007. It is expected to grow 40.5 million in 2008, said a Cadila source.

 

Ben Classen the founder of Simayla will continue heading the company. In addition, he holds 30% stake in the company. Pankaj Patel MD of Cadila said that S. Africa has been one of his key focus Markets, Simayla’s expertise, and promising growth will unlock value for Cadila as he looks to consolidate and grow his business in this market rapidly. The duo will launch 50 drugs over the next three years in South Africa, where the drug market is expected to touch $4.62 billion by 2011.