Strides arm acquires PediaCare brand from Swedish co for $5mn

Drug firm Strides Shasun has inked a pact with Sweden's Moberg Pharma to acquire PediaCare brand for over $5 million.

The company's wholly-owned subsidiary Strides Arcolab International Ltd, UK has entered into an agreement with Moberg Pharma to acquire the PediaCare brand for a total consideration of $5 million plus inventory value at closing, Strides Shasun said in a statement.

PediaCare is an established paediatric cough, cold and allergy brand with annual sales of around $6 million.

"PediaCare will form an important part of Strides expanding consumer health care portfolio and brings with it expertise in the paediatric segment as well as a strong brand name with global potential," Strides Shasun said.

Shares of Strides Shasun ended 0.63% up at Rs 1,081.05 on BSE.