India’s Zenex Animal Health is a relatively new name in the industry. However, the company has a strong six-decade history in the sector as Zydus Animal Health before it was spun out of Cadila Healthcare and renamed in 2021. In fact, the business won this award three times when it had its Zydus moniker.
Since then, Zenex has begun to show strength as an independent business that is building more of a global brand. It is the second largest animal health company headquartered in India and the biggest in terms of domestic sales. It is even the second largest when taking into account international companies. The firm is a leader in the domestic poultry and livestock sectors and has built a reputation for its consistent track record of new product launches – “many of which are first time introductions to the Indian market”.
Zenex has posted healthy sales growth in 2023, with support from a diverse product portfolio. The business is pursuing exports in Africa, Asia and the Middle East to give it more of a global presence. The company’s chief executive Arun Atrey previously said: “Zenex is proactively exploring avenues to integrate with complementary businesses and cement its position as a leader and holistic provider of comprehensive solutions to all segments within animal healthcare.”
Zenex is backed by private equity and its acquisition strategy was apparent when the company recently bought Indian herbal veterinary product maker Ayurvet. This deal could help Zenex move closer to becoming the business with the largest animal health revenues in India, as it climbs closer to Virbac. The acquisition also helps with Zenex goal to internationalize its portfolio. Ayurvet produces natural feed supplements and topical treatments for India and 25international markets, including Europe, the Middle East and Africa.
Dr Atrey noted: “The acquisition will augment Zenex’s growth, as it operates in a completely complementary space to the company’s current operations. Further, it will strengthen Zenex’s geographical presence. Ayurvet’s presence in Poland would aid Zenex’s export division to expand its base in EU region as well. This strategic move aligns with Zenex's vision to offer an expansive array of high-quality, diverse solutions in the animal health space.”
