Zydus Life may acquire US-firm Ardelyx, may raise funds via QIP to part-fund deal: Exclusive

Zydus Lifesciences Ltd. is in talks to acquire US biopharma firm Ardelyx, people in the know told CNBC-TV18 on Tuesday, January 20.

Zydus Life may acquire a controlling stake in Ardelyx or buy key molecules, sources said, adding that the company is looking at raising funds via qualified institutional placement (QIP) to part-fund the acquisition.

Ardelyx has a market capitalisation of $1.6 billion currently.

Zydus Life's board of directors had approved raising a sum of up to ₹5,000 crore through the QIP on November 6, 2025.

CNBC-TV18 reached out to both, Zydus Life and Ardelyx. While the former said it cannot comment on the speculation, a response from Ardelyx is awaited.

In its conference call post second quarter quarters, Zydus Life had said the QIP's key objective is to deleverage its balance sheet by reducing its existing debt.

It also said it has potential opportunities to look into its US specialty business -- gastroenterology as a call point.

Zydus Life said it saw some opportunity also in the central nervous system (CNS) and cardiology space.

Ardelyx has two commercial products approved in the US -- IBSRELA (tenapanor), which is a prescription drug for adults with irritable bowel syndrome with constipation and XYPHOZAH (tenapanor), a prescription medication for adults with chronic kidney disease.

Ardelyx on January 8, 2026, said IBSRELA is expected to achieve $410 million - $430 million in revenue in 2026, and that figure is expected to reach $1 billion in 2029.

Shares of Zydus Life are off the highs of the day, currently trading 0.4% lower at ₹877.25. The stock is down 12% in the last 12 months.

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