Sun Pharma Acquires Uractiv™ Portfolio from Fiterman Pharma in Romania

Sun Pharmaceutical Industries Limited (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715, "Sun Pharma" including its subsidiaries and/or associate companies), today announced that one of its subsidiaries, S.C. Terapia S.A., Romania has acquired the Uractiv™ portfolio from Fiterman Pharma in Romania. The Uractiv™ portfolio comprises food supplements including minerals, vitamins and adjuvants; cosmetics and medical devices used for maintaining urinary tract health.

Uractiv™ is the No. 1 brand in its category in Romania, trusted by consumers for more than 10 years. The portfolio including 12 SKUs has annualised revenues of approximately US$ 8.7 million*. The products cater to both adults and children.

"We are excited to add Uractiv™ to our consumer healthcare portfolio in Romania. This acquisition is in line with our strategy to further expand our non-prescription product basket in Romania and neighbouring markets," said Aalok Shanghvi, EVP & HeadGeneric R&D, Generic Global BD and Emerging Markets, Sun Pharma. "We have a strong presence in Romania with Terapia being the number one company in the generics and OTC market*. We will leverage our robust marketing and distribution strengths to grow these brands further," he added.

The acquisition is subject to customary closing conditions and necessary regulatory approvals. Financial terms of the transaction are confidential.

Shares of Sun Pharmaceutical Industries Limited was last trading in BSE at Rs. 903.95 as compared to the previous close of Rs. 900.55. The total number of shares traded during the day was 155622 in over 3610 trades.

The stock hit an intraday high of Rs. 912.25 and intraday low of 896.00. The net turnover during the day was Rs. 140218351.00.

Source : Equity Bulls

Keywords

SunPharmaceuticalIndustries INE044A01036 SCTerapiaSA Romania Uractiv FitermanPharma