Piramal Enterprises, a Mumbai-based conglomerate has acquired 4 Pfizer, a major drug brand headquartered in Dublin, Ireland. The acquisition took place amounting 110 crores INR being every worth of it. The four possessed brands are Ferradol, Neko, Sloan’s and Waterbury’s Compounds. The announcement was made by the enterprise in a Bombay Stock Exchange (BSE) filing on Friday, May 13th, 2016.
It also made certain that the trademark rights of Ferradol and Waterbury’s Compound were available in Srilanka and Bangladesh, which was all included in the filing procedure. As per BSE performance, Piramal Enterprises closed at 1,263 INR eventually marking an increase of 3.89%.
Though the combined market value of these drugs is worth 7,000 crores INR after acquisitions, it would strengthen the enterprises Over The Counter (OTC) portfolio in public. All the procedures were completed according to regulatory board’s supervision. The sole motto of Mergers & Acquisitions (M & A) specifically for these brands, is to make countries leading top brands in their respective areas and get in better usage as of medical terms.
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According to Nandini Piramal, CEO, Piramal Enterprises, The Consumer Products Division of the company currently ranks 7thin India; but we aim to be a top three player in the OTC market by 2020. Acquisition is one of the important routes to help us achieve our goal and in the last six months we have done two acquisitions in the Consumer Products business.
Ferradol, a well known medicinal drug introduced in 1982, is a nutritional supplement for children and adults. It consists of Vitamin A, Calcium, Carbohydrate, Cholecalciferol, Iron, Protein, Vitamin B1 & B2, Zinc, etc. which comes in 450 gm container.
Neko, famous as a medicated bath soap was launched in 1967 thus erasing body odour and minor skin infections. It consists of Sodium Chloride, Fragrance, Aqua, Disodium, etc. available in bar form in the primary medical shops.
Sloan’s introduced in 1982 helps in healing muscular pains. It is a liniment which relieves muscle and joint pains and comes in cream or lotion form. It is an excellent remedy for people suffering from strains, sprains, arthritis, bruising and backaches.
Waterbury’s Compound was launched in 1970 so as to bring relief to a cough and cold as well as build immunity in children. The drug comes in 450 ml bottle container consisting essential Vitamins and Minerals.
One of the officials of Piramal, Kedar Rajdnye, Chief Operating Officer at Consumer Product Division, stated that the acquired products have an enormous potential to become power brands in their respective categories. He further added as othersix brands previously purchased currently feature among top 100 OTC brands of India.