The drug major said its wholly-owned subsidiary, Cipla Health, has signed definitive agreements for acquisition of Endura Mass from Medinnbelle Herbalcare.
Endura Mass is a renowned nutritional supplement brand in the category of weight gain. "Endura and all other associated trademarks would be part of the acquisition," Cipla said in a statement on Thursday, 14 July 2022.Cipla Health (CHL) will immediately initiate the distribution and marketing of the said products pending the closure of the proposed acquisition.
This acquisition is in line with Cipla's strategic imperative to augment the company's wellness portfolio for bringing about a shift from an illness to a wellness mindset.
CHL through this acquisition, is well positioned to further build and develop the nutrition supplement category owing to its strong existing offline and online distribution muscle and a deep consumer in sighting engine which has already helped create over 12 strong brands within the portfolio.
The acquisition is subject to completion of certain closing conditions.
Shivam Puri, chief executive officer of CHL said, "With this strategic acquisition, we will be expanding our portfolio into a new category of weight gain, thereby catering to a very specific nutritional need for a set of our consumers. Being underweight is linked to multiple challenges such as poor stamina, poor concentration and low immunity. The addition of Endura & Endura mass to our portfolio hence perfectly complements our existing offerings across all key OTC/Wellness categories and would hence help us offer an even more comprehensive solution to all key consumer needs."
CHL is the consumer healthcare subsidiary of Cipla. It offers a diversified portfolio brands such as Nicotex, Cofsils, Prolyte ORS, Cipladine, Maxirich, MamaXpert, Maxirich, Naselin, Ciphands Clocip, Rivela Dermascience and Evexpert.
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Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in our home markets of India, South Africa, North America, and key regulated and emerging markets.
The drug major's consolidated net profit fell 12.4% to Rs 362 crore on 14.2% increase in total revenue from operations to Rs 5,260 crore in Q4 March 2022 over Q4 March 2021.
Shares of Cipla fell 0.26% to Rs 950.85 on Thursday, 14 July 2022.
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