Cipla buys skincare product marketing rights worth Rs 90 cr

Delhi-based skincare and cosmeceutical manufacturer Percos India has sold its product marketing rights to pharma giant Cipla for an estimated Rs 90 crore deal

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(Photo Courtesy: www.bookboon.com)

The company's skincare products focuses on treating disorders including acne, skin ageing, psoriasis, eczema and dark circles among others.

According to a report by The Economic Times, Percos for the next five years will continue to manufacture the products, and later transfer the rights to Cipla.

The 18-year-old Percos' has its manufacturing facility in Haridwar, Uttarakhand.

Percos also claims that it has partnered with DRDO (Defence Research and Development Organization) for the development and manufacturing of high altitude sun screen to aid armed forces and civilians who are engaged in work in hostile environments.

Last month, Cipla was the only key bidder for Kremers Urban, the specialty generics drug business of the US $4 billion Belgian drug maker UCB, and the deal was pegged at US $1.3 billion.

 

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