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.