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Indoco acquires brand from Solvay Pharma
By Our Staff Correspondent
MUMBAI,
SEPT. 27.
Indoco Remedies, a pharmaceutical company with a presence in pain management, gynaecology, paediatric, cardiology and diabetology, has acquired Karvol Plus, a key brand in the anti-cold segment from Solvay Pharmaceuticals for an undisclosed amout today.
The current acquisition further bolsters Indoco's existing line up of brands — Febrex Plus in the anti-cold and Tuspel Plus brand of cough syrups therapeutic segments. These brands registered annual sales of Rs. 35 crores, contributing about 20 per cent of the total turnover for year ended June 2004.
Indoco is expanding its facilities at one of its plants in Goa and is expected to be operational in December 2004. The new tablets, liquids and creams manufacturing facility at Baddi, Himachal Pradesh, will go on stream next year while the new APIs manufacturing facility at Lote Parshuram, Chiplun, is to be operational in October next year. The company has one manufacturing facility in Mumbai and two in Goa.
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