Zydus Agrees to Acquire Assertio in $166.4 Million All-Cash Transaction

Zydus Lifesciences Acquires Assertio Holdings Inc. for $166.4 Million

Zydus Lifesciences announced on Wednesday that it has signed an agreement via its subsidiary to acquire Assertio Holdings Inc. for $166.4 million in an all-cash deal. The acquisition is a strategic step in strengthening Zydus Lifesciences' specialty and oncology footprint in the US.

Assertio is a Nasdaq-listed pharmaceutical company focused on specialty and oncology supportive-care therapies. Under the deal, Zydus Worldwide DMCC will acquire all outstanding shares of Assertio for $23.50 each, representing total consideration of about $166.4 million on a fully diluted basis.

The acquisition provides Zydus Lifesciences with an established US specialty oncology commercial platform, anchored by Assertio's presence in oncology supportive care. The company plans to leverage Assertio's commercial infrastructure and oncology relationships to build and expand its specialty oncology presence in the US.

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Zydus's offer trumped those of its competitors, emerging as the 'superior proposal.' The deal represents a 30.6% premium to the previously announced $18-per-share all-cash transaction with Garda Therapeutics on April 8, 2026, and a 7.8% premium to the $21.80-per-share all-cash transaction with Garda announced on May 4, 2026.

It also represents a 75.8% premium to the company's unaffected closing stock price on March 20, 2026, the day before significant movements in the share price and trading volumes. Assertio's share price on the Nasdaq as of 11:35 am on May 13 was $23.31.

Under the terms of the merger agreement, Zydus Lifesciences will commence a tender offer to acquire all outstanding shares of Assertio common stock. The transaction is structured as a tender offer, to be followed by a merger. The tender offer is expected to commence within five business days of the merger agreement. The transaction is expected to close this financial year, provided all closing conditions are met.

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"This transaction represents a strategic step in strengthening our specialty and oncology footprint in the US. 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," Sharvil Patel, managing director of Zydus Lifesciences, said.

This deal is the latest in a string of overseas acquisitions by the Ahmedabad drugmaker as it looks to diversify and strengthen its specialty plays in regulated markets. In June 2025, it announced the acquisition of two biologics manufacturing facilities from US-based Agenus Inc. for up to $125 million, helping it enter the global biologics CDMO market. In July, it agreed to acquire an 85.6% stake in French orthopaedics firm Amplitude Surgical for about €256.8 million, marking its entry into the global medtech space.

Mint reported in January that Zydus was evaluating a majority stake purchase in US-based Ardelyx Inc. in a deal valued at $2.2-2.5 billion.