Cipla Limited (BSE: 500087; NSE: CIPLA EQ; and hereafter referred to as "Company" or "Cipla") announced today that Cipla Health Limited (CHL), wholly owned subsidiary and consumer healthcare arm of the Company has signed definitive agreements for acquisition of Endura Mass, a renowned nutritional supplement brand in the category of weight gain from Medinnbelle Herbalcare Private Limited. Endura® and all other associated trademarks would be part of the acquisition.
As per the Lancet Journal(Study from 1975 - 2014), India has approximately 20 crore adult (male & female) population who are underweight. Endura Mass has a legacy of over 20 years in providing solutions for consumers actively looking to gain weight. It has a range of proven, efficacious, and safe range of weight gainers that help to gain weight in a healthy way.
This acquisition is in line with Cipla's strategic imperative to augment the Company's wellness portfolio for bringing about a shift from an illness to a wellness mindset. As per the signed definitive agreements, acquisition is subject to completion of certain closing conditions. CHL shall immediately initiate the distribution and marketing of the said products pending the closure of the proposed acquisition.
Commenting on the development, Shivam Puri, Chief Executive Officer of CHL said, "With this strategic acquisition, we will be expanding our portfolio into a new category of weight gain, thereby catering to a very specific nutritional need for a set of our consumers. Being underweight is linked to multiple challenges such as poor stamina, poor concentration and low immunity. The addition of Endura & Endura mass to our portfolio hence perfectly complements our existing offerings across all key OTC/Wellness categories and would hence help us offer an even more comprehensive solution to all key consumer needs."
CHL through this acquisition, is well positioned to further build and develop the nutrition supplement category owing to its strong existing offline and online distribution muscle & a deep consumer in sighting engine which has already helped create over 12 strong brands within the portfolio.
Shares of Cipla Limited was last trading in BSE at Rs. 950.85 as compared to the previous close of Rs. 953.35. The total number of shares traded during the day was 38417 in over 2893 trades.
The stock hit an intraday high of Rs. 968.35 and intraday low of 945.30. The net turnover during the day was Rs. 36825965.00.