 "Strides Shasun buys Swedish firm Moberg Pharma’s 3 brands for $ 10 mn")
Strides Shasun Ltd, through its wholly owned subsidiary Strides Pharma Inc, has entered into an agreement to acquire three brands - Jointflex, Fergon and Vanquish - from Swedish firm Moberg Pharma for a total consideration of $ 10 million (about Rs 67 crore) plus inventory value at closing.
Moberg brands that are currently marketed in USA, Australia and Middle East will further strengthen the OTC business of Strides Shasun. "The OTC business has now reached a critical size and is showing promise to become an important part of the overall growth strategy," said Strides Shasun in a press release.
Recent acquisitions has enabled Strides Shasun build an emerging OTC franchise both in its regulated and emerging markets. The acquired Moberg brands will strengthen Strides Shasun’s strategy to build a global OTC franchise.
The OTC portfolio now includes Chemists Own umbrella brand in Australia and Nuprin in the US, acquired by erstwhile Shasun from Scolr Pharma, US. Nuprin has the global rights to the first ibuprofen 12 hour extended release (ER) tablet as well as the associated controlled delivery technology (CDT).
