India: Piramal Enterprises buys four Pfizer brands for $16.4m

The consumer products division of the company currently ranks 7th in India, but the company aims to be a top 3 player in the OTC market by 2020, says Nandini Piramal, executive director, Piramal Enterprises.

The consumer products division of pharma company Piramal Enterprises Ltd has acquired four brands from Pfizer Ltd for Rs.110 crore, the company said in a statement on Friday. The brands are Ferradol, Neko, Sloan’s and Waterbury’s Compound. The collective market size of these brands is estimated at Rs.7,000 crore, the company said.

“These brands hold a rich legacy and have a high consumer pull and are available in India for the past 30+ years,” the company said in a statement, adding that the trademark rights for Ferradol and Waterbury’s Compound in Bangladesh and Sri Lanka will also be transferred to Piramal as part of the deal.

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