Rs 110 Crore Price Tag for the Four Pfizer Brands Piramal Enterprises Acquired
Piramal Enterprises is acquiring four brands of US drug maker Pfizer for Rs 110 crore, the third such acquisition by the Mumbai-based company in the past six months, in line with the strategy to expand its consumer product business.
The company, part of Ajay Piramal-led Piramal Group, on Friday said it will acquire Pfizer’s child nutrition supplement Ferradol, medicated soap Neko, pain reliver Sloan and cough syrup Waterbury’s compound in a market that is estimated to be Rs 7,000 crore. “Our aim is to be a significant player in every business under the healthcare vertical of Piramal Enterprises Limited,” said Nandini Piramal, executive director, Piramal Enterprises.
“The company’s consumer products division ranks 7th in India, but we aim to be a ‘top three’ player in the OTC (over-the-counter) market by 2020. Acquisition is one of the important routes to help us achieve our goal,” she said.
The company had in December 2015 acquired five over-the-counter products of MSD Pharmaceuticals in the pain relief category for Rs 95 crore. A month earlier, it had acquired the brand Little, which sells various baby accessories in India.
