Mankind to buy 2 brands from DRL – Times of India

Mankind to buy 2 brands from DRL - Times of India

[ad_1]

MUMBAI: Mankind Pharma has said it has entered into an agreement with Dr Reddy’s (DRL) to acquire two brands, ‘Combihale’ and ‘Daffy’. While Combihale is used for the treatment of asthma and chronic obstructive pulmonary disease, Daffy is a soap-free moisturising bar for infants.
The market for asthma and chronic obstructive pulmonary disease is valued at around Rs 900 crore, growing at 14% (according to IQVIA), a company statement said. The acquisition of ‘Combihale’ is expected to strengthen Mankind’s presence in the inhalation respiratory market segment. The market for the ‘Daffy’s’ category is valued at Rs 1,000 crore, growing at 18% (IQVIA).
Financial details of the transaction were not available. Mankind Pharma president Atish Majumdar said, “We believe these brands have adequate potential to grow in the Indian market and the best part of the acquisition is that both these brands perfectly fit in our portfolio. They provide us an opportunity to grow and build the respiratory and dermatology business further.”
According to the terms of the agreement, Mankind Pharma will take over the manufacturing, marketing and distribution of both the products in India. The entire integration and transition of the brands is expected to be completed by March 2022.



[ad_2]

Source link

Leave a Comment

Your email address will not be published.