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On Wednesday, the Piramal Enterprises Ltd’s (PEL) Consumer Products Division has announced the acquisition of five brands from Organon India Pvt Ltd and MSD BV for Rs 92 crore.
Piramal Enterprises Ltd said in a BSE filing that “The acquisition includes mainly the brands Naturolax, Lactobacil and Farizym, which PEL intends to continue in the Gastro-Intestinal (GI) segment through the over-the-counter (OTC) route. The brands hold a rich legacy in India and have a high consumer pull.”
Nandini Piramal, the executive director of Piramal Enterprise said that “In line with our strategy, we aim to be a top 3 player in the OTC market by 2020 and the addition of this portfolio of brands will help us move swiftly towards that objective.”
The five trademark right’s acquisition is for India.
