Zydus is adding growth levers in its medtech segment (cardiology, nephrology, orthopaedics). However, considering stable earnings over FY25-27, we maintain Neutral rating on the stock.
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Motilal Oswal Report
Zydus Lifesciences Ltd. has entered into exclusive negotiations to acquire Amplitude Surgical, extending its scope of business in the medtech segment.
Amplitude delivered 5% YoY growth in sales for six months ending in Dec'24, with Ebitda margin of 25.4%. The acquisition would be at four times enterprise value/12 months sales and 15.7x EV/12 months Ebitda.
The acquisition is a part of Zydus' priority verticals in the medtech segment to build its global presence.
Zydus is enhancing its existing growth levers such as-
differentiated product pipeline/manufacturing for US generics,
day-1 launches/next generation drug delivery platforms for India market, and
niche product pipeline in biosimilar, vaccine and NCE segments.
Zydus is further adding growth levers in its medtech segment (cardiology, nephrology, orthopaedics). However, considering stable earnings over FY25-27, we maintain Neutral rating on the stock.
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