Zydus Lifesciences, through its subsidiary Zydus Worldwide DMCC, will acquire US-based pharmaceutical company Assertio Holdings Inc in an all-cash deal valued at $166.4 million (around ₹1,592 crore), the companies announced on Wednesday.
Under the agreement, Zydus will acquire all outstanding shares of Nasdaq-listed Assertio for $23.50 per share in cash. Assertio’s board approved the transaction after determining that Zydus’ proposal constituted a “Superior Proposal” under its revised merger agreement with Garda Therapeutics.
The board has also authorised termination of the earlier Garda deal to proceed with the Zydus transaction. “In making its determination that the Zydus Offer represented a Superior Proposal, the Board considered Zydus’ strong execution profile, including that the Zydus Offer has no financing contingencies, requires no third-party financing, and is fully guaranteed by a creditworthy Zydus entity, providing Assertio with direct recourse in the event of a breach or failure to close,” Assertio stated in an official release posted on the company’s website.
The acquisition gives Zydus an established specialty oncology commercial platform in the US, anchored by Assertio’s oncology supportive-care portfolio. Assertio’s key product includes Rolvedon, a long-acting G-CSF biologic approved by the US Food and Drug Administration (USFDA) for prevention of febrile neutropenia in adult cancer patients undergoing myelosuppressive chemotherapy.
“This transaction represents a strategic step in strengthening our specialty and oncology footprint in the U.S.,” said Dr Sharvil Patel, Managing Director, Zydus Lifesciences. “Assertio brings a focused commercial platform and an approved oncology asset that aligns well with our long-term strategy of building differentiated, durable specialty businesses globally,” he added.
Tender offer
The acquisition will be executed through a tender offer, following which Zydus will acquire the remaining shares through a second-step merger at the same price.
Upon completion, Assertio will be delisted from Nasdaq. Illinois-based Assertio Holdings is a commercial pharmaceutical company with branded prescription products spanning neurology, oncology, hospital care, pain and inflammation. The company has expanded through licensing, mergers and acquisitions across therapeutic segments.
The transaction is expected to close in the second quarter of calendar 2026, subject to customary closing conditions, including tender of a majority of outstanding shares. The companies said no regulatory approvals are expected to be required. Assertio Board Chair Heather Mason said the company’s strategic review process concluded that Zydus’ offer provided the best combination of value certainty and execution capability for shareholders.