The Chandigarh-based Surya Pharmaceuticals on Tuesday announced that it had acquired the U.S.-based over-the-counter analgesic drug manufacturer ActivOn for $22 million (about Rs.99 crore).
“Surya Pharma's wholly owned subsidiary, Surya Pharmaceutical (Singapore) Pte Ltd., has acquired ActivOn, a leading OTC (over-the-counter) analgesic drug brand in the U.S., with global marketing rights,'' the company said in a statement here.
Through this acquisition, Surya Pharma will be able to market its products in the U.S. through ActivOn's established marketing network, which includes leading retailers such as Walmart, Walgreen, CVS, Rite Aid, and the like, the statement said. “This acquisition will be instrumental in establishing our presence in the U.S. markets, which would offer an attractive opportunity to launch our OTC/FMCG products using ActivOn's distribution set-up,'' Surya Pharma CEO, Hariom Bhatia said.
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