(Reuters) -India’s Zydus Lifesciences said on Tuesday it will acquire an 85.6% stake in France’s Amplitude Surgical for 256.8 million euros (nearly $280 million) as part of its plans to expand further in the global medical devices market.
The acquisition, which is a nearly 81% premium to Amplitude’s last close, comes as India’s pharmaceutical industry is bracing itself for U.S. President Donald Trump’s plans to tax pharmaceutical imports.
The United States is Zydus Lifesciences’s biggest market, accounting for 47% of total revenue, followed by India.
The company, which is focused on manufacturing generic drugs, has been expanding its product portfolio to new therapy areas, including specialty drugs and medical technology.
“In Amplitude Surgical, we see several medium-term and long-term growth opportunities with respect to portfolio, capabilities, manufacturing and geographies,” said Zydus Lifesciences’s Managing Director Sharvil Patel.
Amplitude Surgical is involved in developing surgical technologies for lower-limb orthopedics, including products for orthopedic surgery, especially for procedures related to the hip and knee.
The company has also been expanding internationally through its units in more than 30 countries. As of June 2024, Amplitude Surgical had 428 employees and sales of nearly 106 million euros.
($1 = 0.9176 euros)
(Reporting by Kashish Tandon in Bengaluru; Editing by Janane Venkatraman)
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