Campaign India Team
Dec 15, 2010

Reckitt buys Paras Pharma for Rs 3,260 crores

With this move, Reckitt will have OTC brands like Moov, D’Cold, Dermicool, Krack, among others.

Reckitt buys Paras Pharma for Rs 3,260 crores

Reckitt Benckiser has bought Ahmedabad-based Paras Pharmaceuticals for a Rs. 3,260 crores deal giving it some of the OTC brands including Moov, D’Cold, Dermicool, Krack, Itch Guard, Ring Guard and Set Wet.

Bart Becht, chief executive of Reckitt Benckiser, said, "The acquisition of Paras is another step forward in RB's growth strategy in consumer health care. It creates a material health care business in India, one of the most promising health care markets in the world, with the addition of a number of strong and leading brands."

"We believe the Paras business has not only extremely good growth potential, when supported by RB's investment and innovation strength, we also expect to realize material synergies as a result of the integration of Paras into Reckitt Benckiser.”

"The growth potential of the business, the creation of a material health care business in India's large and growing health care market, and the global synergies available, make Paras an exciting addition to our portfolio and attractive opportunity for our shareholders," he added.

Reckitt had completed the takeover of SSL, which owns the Durex and Scholl brands in November, and showed strong growth in the third quarter of 2010.

Source:
Campaign India

Related Articles

Just Published

12 hours ago

Cashkaro enters 'rewards war', takes a dig at ...

Watch the film conceptualised in-house here

13 hours ago

Truecaller assigns digital mandate to Wirality Media

The agency has been working with the brand on a project basis

14 hours ago

Maya Hari gets global role at Twitter

As Hari takes on a global role, the social media network is consolidating Japan and South Korea with the rest of Asia-Pacific

14 hours ago

We have to find non-obvious ways of showing a woman ...

Megha Tata, Piyush Pandey, Rohini Miglani and Sapna Chadha, discuss stereotypes in Indian advertising and how gender portrayal is changing