Zydus Lifesciences buys US-based Assertio Holdings for $166.4 million to boost oncology presence

Zydus Lifesciences on Wednesday said it will acquire US-based pharma firm Assertio Holdings for a total consideration of $166.4 million (approximately ₹1,590 crore).

Zydus Worldwide DMCC, a subsidiary of the company, has signed a definitive agreement, through its wholly-owned acquisition arm Zara Merger Sub Inc, with Assertio Holdings Inc to acquire all outstanding shares of Assertio for $23.50 per share in cash, Zydus Lifesciences Ltd said in a statement.

It represents total consideration of approximately $166.4 million on a fully-diluted basis, calculated using the treasury stock method, it added.

Assertio is a US-based pharmaceutical company focused on speciality and oncology supportive-care therapies.

The acquisition provides Zydus with an established US speciality oncology commercial platform, anchored by Assertio's presence in oncology supportive care, the statement said.

"This transaction represents a strategic step in strengthening our speciality and oncology footprint in the US. Assertio brings a focused commercial platform and an approved oncology asset that aligns well with our long-term strategy of building differentiated, durable speciality businesses globally," Zydus Lifesciences MD Sharvil P Patel said.

Zydus said it intends to leverage Assertio's focused commercial infrastructure and oncology relationships to build and expand its speciality oncology presence in the US.

Under the terms of the merger agreement, Zydus will commence a tender offer to acquire all outstanding shares of Assertio common stock.

The transaction is structured as a tender offer to be followed by a merger, subject to customary closing conditions, including the tender of shares representing at least a majority of the total number of outstanding shares of Assertio common stock, the statement said.

After the successful completion of the tender offer, Zydus will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price paid in the tender offer, it added.

The tender offer is expected to commence within five business days, following the date of the merger agreement, the company said.

The transaction is expected to close in the financial year 2026-27, subject to satisfaction of all closing conditions, Zydus Lifesciences said.

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