Strides Shasun acquires PediaCare for over USD 5 Million
Strides Shasun, a drug firm has signed a pact with Sweden's Moberg Pharma to acquire PediaCare brand for over USD 5 million.
Strides Shahun said in a statement that the company's wholly-owned subsidiary Strides Arcolab International Ltd, UK has entered into an agreement with Moberg Pharma to acquire the PediaCare brand for a total consideration of USD 5 million plus inventory value at closing.
It also added, "PediaCare will form an important part of Strides expanding consumer health care portfolio and brings with it expertise in the paediatric segment as well as a strong brand name with global potential."
PediaCare is an established paediatric cough, cold and allergy brand with annual sales of around USD 6 million.