Cadila Healthcare (CHL), a leading global healthcare provider announced that it will be acquiring 51% stake in Dehradun-based Windlas Healthcare Private (WHPL).

Speaking on the development, Managing Director of Cadila Healthcare, Sharvil Patel said, ''We see this as an opportunity to ramp up our operations and increase our product offerings. Windlas Healthcare’s cost-efficient manufacturing infrastructure and technical competence to develop a competitive product pipeline will be a great asset for us.''

Windlas Healthcare has a robust manufacturing infrastructure with a USFDA inspected oral solids manufacturing facility. WHPL also has a dedicated R&D facility for formulations development and has developed four First-to-File ANDAs in the last two years. The strategic deal allows Cadila Healthcare to expand its existing manufacturing base.

Shares of the company declined Rs 21.95, or 5.83%, to trade at Rs 354.55. The total volume of shares traded was 541,060 at the BSE (3.41 p.m., Monday).