Piramal to buy four OTC brands from Pfizer
Παρασκευή 20 Μάι 2016
Piramal Enterprises is set to boost its Consumer Products business in its home market of India by acquiring four OTC brands from Pfizer for INR1.10 billion (US$16.5 million).
The deal gives Piramal the Ferradol nutritional supplements for children and adults, the Neko medicated soap for body odour and minor skin infections, and the Sloan's muscular pain reliever. The company also gains Waterbury's Compound for building immunity to coughs and colds.

Piramal said the brands, which have been available in India for more than 30 years, had a "rich legacy" and a "high consumer pull".

The Indian company added that the deal included trademark rights for Ferradol and Waterbury's Compound in Bangladesh and Sri Lanka.

Kedar Rajadnye, president and chief operating officer of Piramal's Consumer Products business, said the four "powerful heritage brands have huge potential to become powerbrands in their respective categories".

Third acquisition in recent months

Nandini Piramal, executive director of Piramal Enterprises, pointed out that the deal was the third acquisition for Piramal's Consumer Products business in recent months. Piramal has acquired five OTC brands in India from US-based Merck & Co, as well as the Little's baby care brand in India (Click here to read more about these deals on the OTCToolbox Deals Database).

Nandini Piramal said Piramal was the seventh-largest OTC player in India, and aimed to be a top-three player in the OTC market by 2020.

Piramal's consumer products include Lacto Calamine skincare products and Saridon pain relievers, as well as Caladryl skincare products, Jungle Magic perfumes for children, Polycrol antacids, the QuikKool mouth ulcer gel, and Tetmosol scabies treatment soap. The Consumer Products business also markets the I range which includes the i-pill emergency contraceptive and i-can pregnancy test kit.

The company said its Consumer Products business was one of the fastest-growing players in India. Most of the brands in the portfolio were either number one or number two in their respective categories in India, added Piramal, noting that six of its brands were in the top 100 OTC brands in India.

In the 12 months ended 31 March 2016, Piramal's Consumer Products business recorded sales up by 10.1% to INR3.93 billion. The company noted that the figure included ophthalmology products.

Consumer Products generated 5.9% of sales at Piramal Enterprises, which were up by 29.0% to INR66.1 billion in the 12 months. Piramal Enterprises has interests in healthcare, financial services and information management.

Piramal said the Pfizer deal was subject to certain conditions including regulatory approvals.

Πηγή:  OTC Tool Box

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