RPG Life Sciences acquired seven prescriptions brands from Sun Pharmaceuticals, largest pharmaceutical industry from India in 41 crores.
RPG Life Sciences reported in the BSE filing that the board of directors of the company at its meeting, has approved the acquisition of Trade Marks from Sun Pharmaceutical Industries Limited and its subsidiary.
The move is in line with the company's strategy to focus on formulations business. The acquired brands are primarily in respiratory and urology segments. In addition to this, three products will compliment the company's existing range.
Talking about the development, Mr. CT Renganathan, Managing Director, RPG Life Sciences said, "Historically, the company has invested in in-licensing products. This is the first time that we have made a brand acquisition. We believe these brands have a huge potential to grow and are a perfect fit to our current portfolio and in line with our long-term growth strategy."
This deal is subject to receipt of Competition Commission of India's (CCI) approval.
