(Photo Courtesy: www.asisystem.com)
Strides Shasun today announced that its wholly-owned subsidiary Strides Pharma Inc. has entered into an agreement with Moberg Pharma, Sweden, and its affiliates to acquire Jointflex, Fergon and Vanquish brands for a total consideration of $10 million plus inventory value at closing.
The transaction adds $ 6.1 million of revenues and delivers above company EBITDA margins.
Recent acquisitions has enabled Strides Shasun build an emerging OTC franchise both in its regulated and emerging markets.
The announced acquisition strengthens Strides Shasun's strategy to build a global OTC franchise.
The OTC portfolio now includes market leading Chemists Own umbrella brand in Australia and Nuprin in the US, acquired by erstwhile Shasun from Scolr Pharma, US.