Drugmaker Cadila Healthcare, which operates under the brand Zydus Cadila, said it has acquired six brands from global drug giant Merck for an undisclosed amount as the company seeks to strengthen its portfolio in the therapeutic segment.
The brands were acquired through the Indian company's wholly-owned unit Zydus Healthcare from MSD and its subsidiaries, Zydus said in stock market disclosure. Merck is known as MSD outside the US and Canada.
The six brands -- Deca-Durabolin, Durabolin, Sustanon, Multiload, Sicastat and Axeten -- fall in the men’s and women’s health, wound management and cardiovascular therapy segments. These brands clocked in sales of Rs 84 crore in 2015.
This is the second known sale of some its brands by MSD in India as it aims to focus on select core brands. In December 2015, the company sold five over-the-counter brands to Piramal Enterprises Ltd for Rs 92 crore.
For Zydus, the company said this strategic acquisition would strengthen its portfolio in key therapeutic segments.
Among the acquired brands, Multiload that is an intra uterine device (IUD) is expected to widen its offerings in the women's contraceptive space while Deca-Durabolin and Durabolin are widely prescribed drugs for osteoporosis, muscle wasting and management of negative nitrogen balance, Zydus said.
"The brands with their strong equity are a perfect addition and complement our core business and brands," said Sharvil Patel, chairman, Zydus Healthcare.
Zydus has been on an acquisition spree this year both in India and overseas as pharmaceutical companies continue to stitch strategic deals. In August, the company acquired Melgain lotion used for treatment of skin depigmentation from Issar Pharma to strengthen its dermatological portfolio.
In June, the company said it has decided to buy Teva Pharmaceutical Industries Ltd's two abbreviated new drug applications (ANDAs), to strengthen its US portfolio.
Prior to that Zydus said its subsidiary Zydus Healthcare had acquired gastrointestinal brand Actibile from Kolkata-based drug firm Albert David for an undisclosed amount. In January, it acquired some animal health and manufacturing operations at Haridwar in Uttarakhand from US animal health company Zoetis Inc.
Zydus develops, manufactures and markets a broad range of healthcare therapies including small molecule drugs, biologic therapeutics, vaccines, APIs, animal healthcare and wellness products. The Ahmedabad-based company employs over 19,500 people worldwide including 1,200 scientists.
Shares of Zydus were trading at Rs 345.55 on the BSE, down 1.4% from the previous close in a flat Mumbai market.
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