Zydus Cadila Acquires Nippon Universal Pharmaceutical

In an effort to penetrate the under-developed Japanese generics market, Indian firm Zydus Cadila has bought local player Nippon Universal Pharmaceutical. While a prescient move in our opinion, we believe the small-scale nature of the transaction and the languid nature of the pharmaceutical market in Japan means upside for Zydus Cadila will be modest and take some time to be realised.

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