Corona Remedies acquires specific brand portfolio from Abbott India

Plan for substantially changing revenue mix over 3 years

Corona Remedies, the Ahmedabad-headquartered mid-sized pharmaceutical firm, has acquired two diabetes and hyperthyroidism brands, Obimet and Thyrocab, comprising 14 product line extensions, from multinational drug major Abbott India for an undisclosed sum. 

A domestic market-focused company, Corona is trying to plug gaps in the therapy segments. It is betting on the cardio-metabolic disorders segment for future growth. This segment, with a market size of Rs 108 billion, is clocking  13 per cent annual growth. It also aims to improve the share of chronic therapies in its portfolio. Earlier, Corona had acquired four brands from GlaxoSmithKline (Dilo-BM, Dilo-DX, Stelbid and Vitneurin),