German Remedies Ltd (GRL) has decided to acquire five trademarks - Deriphyllin, Paractol, Ildamen, Xipamid and Beta-Xipamid - from Zydus International, Ireland, a subsidiary of Cadila Healthcare.
This follows the agreement between Cadila Healthcare, the present promoters of GRL, and GRL to transfer the five trademark rights to the latter at a cost incurred by it in acquiring them from Asta Medica AG of Germany last year.
Last year, the Zydus Cadila group bought a strategic stake of 36.9 per cent in GRL from Asta Medica, Heller Vermogensverwaltungs GmbH, Boehringer Ingelheim and Schering AG.
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GRL on Monday informed the Bombay Stock Exchange that at its meeting held on October 25, the board of directors decided to acquire the trademarks from Cadila Healthcare on perpetual assignment basis.
With this, GRL will have complete and unfettered ownership of the trademarks (not mere licence) in the assigned territories.
Apart from this, the company will have a number of benefits as compared with the existing arrangements, it has informed the BSE.
The major benefits include the right to market the products using these trademarks in several countries including Sri Lanka, Nepal, Bhutan, besides many south-east Asian, African, American and Commonwealth of Independent States (CIS) countries and India.
The agreement will also offer the right to unveil brand and line extension products and right to source active ingredients at the best commercial rates.