After acquiring the domestic formulations business of Panacea Biotec, India's fourth largest pharma company Mankind Pharma on Wednesday said that it has entered into an agreement with Dr Reddy's Laboratories (DRL) to acquire two of its brands - one asthma and one infant care brand. The deal size was not disclosed.
Combihale, a drug used for treating asthma and chronic obstructive pulmonary disease has a category market size of Rs 900 crore which is growing at 14 percent (IQVIA). Daffy, a soap-free moisturising bar for infants operates in a market category which is valued at Rs 1000 crore and is growing at 18 percent (IQVIA).
The company said that the acquisition of Combihale is expected to strengthen Mankind’s presence in the inhalation respiratory market segment.
Mankind Pharma already has a range of pharmaceutical products in Respiratory and Dermatology segments and the acquisition of these brands fits well with Mankind’s strategy to expand its presence in these therapy segments, the Delhi based company said.
Atish Majumdar, President at Mankind Pharma 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, and provides us an opportunity to grow and build the respiratory and dermatology business further.”
According to the terms of the definitive agreement executed between the companies, 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.
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