Wockhardt acquires Dumex with Protinex, Farex brands from Royal Numico NV
30 June 2006
Mumbai: Pharmaceutical and biotechnology major Wockhardt Limited has acquired Dumex India Pvt Ltd along with its two products Protinex and Farex, India''s well known nutrition brands, from Royal Numico NV of The Netherlands, for an undisclosed amount.
The two heritage brands have over 50 years of brand equity. Protinex, acquired by Dumex from Pfizer in 2002, is the market leader and the largest prescribed brand in its category, growing at over 20 per cent in volume in recent years.
Dumex acquired Farex, currently the third-largest selling infant nutrition formula in the cereals category, from Heinz, who had bought it from Glaxo. A growing OTC (over-the-counter) segment of consumers has also emerged over the years, who consume the brand for everyday health.
The two brands currently generate annual sales of Rs60 crore and are a natural fit that complement Wockhardt's product range. Their acquisition will see Wockhardt''s nutrition products sale doubling to Rs120 crore.
Earlier this year, Wockhardt launched a new division called Wockhardt Speciality Nutrition to market disease-specific dietary supplements for patients on dialysis, ICU (intensive care unit) patients and diabetic patients.
According to ORG-IMS Wockhardt has market leadership with a 15-per cent share of the Indian nutrition market.