Mankind Pharma, the 4th largest company in the Indian Pharmaceutical Market (IQVIA), has entered into an agreement with Dr. Reddy’s Laboratories Ltd. to acquire two of its brands “Combihale” and “Daffy”.
Combihale is used for the treatment of asthma and chronic obstructive pulmonary disease. The market for this category is valued at ~ Rs 900 crores growing at 14% (IQVIA). The acquisition of “Combihale” is expected to strengthen Mankind’s presence in the inhalation respiratory market segment. Daffy is a soap-free moisturizing bar for infant babies. The total market for this category is valued at ~ Rs 1000 crores growing at 18% (IQVIA).
Mankind Pharma already has a wide range of pharmaceutical products that help Indian doctors treat various Respiratory and Dermatology conditions and the acquisition of these brands fits well with Mankind’s strategy to expand its presence in these therapy segments.
Commenting on the development, Atish Majumdar, President at Mankind Pharma said, “We believe these brands have adequate potential to grow in the Indian market and the best part of the acquisition is that both these brands perfectly fit in our portfolio, and provides us an opportunity to grow and build the respiratory and dermatology business further.”
As per the terms of the definitive agreement executed between the companies, Mankind Pharma will take over the manufacturing, marketing and distribution of both the products in India. The entire integration and transition of the brands is expected to be completed by March 2022.
