Piramal Enterprises to buy four brands from Pfizer for Rs110 cr
14 May 2016
Ajay Piramal-led Piramal Enterprises today struck a deal to buy four brands from Pfizer Ltd for Rs110 crore.
"The company's consumer products division has entered into an agreement to acquire four brands from Pfizer Ltd for a consideration of Rs 110 crore," Piramal Enterprises said in a statement.
The four brands being acquired include child nutrition supplement Ferradol, medicated soap Neko, pain reliver Sloan and cough syrup Waterbury's compound, which have a combined market size of an estimated at Rs7,000 crore.
"The agreement also includes the trademark rights for Ferradol and Waterbury's Compound in Bangladesh and Sri Lanka," Piramal Enterprises said in the statement.
Piramal Enterprises executive director Nandini Piramal said, "The consumer products division of the company currently ranks seventh in India but we aim to be a top 3 player in the OTC market by 2020."
Kedar Rajadnye, COO - Consumer Products Division, Piramal Enterprises said, ''Most of the brands in our portfolio viz Saridon, Ipill, Lacto Calamine, Tetmosol and Caladryl have strong consumer franchise and are leading players in their respective categories. We currently have 6 of our brands in the top 100 OTC brands of India.''
The consumer product division of Piramal Enterprises is one of the fastest growing players in the domestic consumer healthcare market and is currently ranked 7th amongst all OTC players in India.
The business has a portfolio of brands like Saridon, Lacto Calamine, I range of Products (i-pill, i-know, i-can), Quik Kool, Polycrol, Jungle Magic , Tetmosol, Caladryl, Littles, Naturolax, Lacto Bacil plus etc and has 6 brands amongst the top 100 Indian OTC brands.
Most of the brands in the portfolio are either No 1 or No2 in their respective categories. The business has a strong distribution footprint and covers all the 20k+ population towns across the country.