Chandigarh-based Surya Pharmaceutical Ltd, a premier integrated pharmaceutical company in India, has acquired ActivOn, a leading OTC analgesic drug brand in the USA, with global marketing rights.
The brand comes with the acquisition of Ameshire Investment Corp, USA through its 100% subsidiary based out of Singapore. The company has funded the investment of US$ 22 million through a mix of internal accrual and debt financing from EXIM Bank.
ActivOn is a leading OTC analgesic brand in the topical analgesic category in the US market. It is used to provide relief of joint and muscle pain associated with arthritis, backache, strains, bruises and sprains.
Through the acquisition, the company also adds to its portfolio brands namely, PREFERON, FIRSTON and RENEWIN. The company would also have the global marketing rights for HEADON, another leading brand, except USA.
Commenting on the development, Hari Om Bhatia, CEO, Surya Pharma said, “This acquisition will not only entitle us to ready shelf space with leading retailers like Walmart, Walgreen, CVS, RiteAid, etc. but also will be instrumental in establishing our presence in the US markets. Our presence in the coming years will offer attractive opportunity to launch our OTC/FMCG products, using ActivOn’s distribution set-up.”
