Glenmarks arm acquires basket of 7 products

Mumbai, June 16: Glenmark Pharmaceuticals's South African subsidiary Bouwer-Bartlett (Pty) has acquired 7 products and 11 presentations from P D Pharmaceuticals Pty (PD Pharma) for an undisclosed amount.

Announcing this, the Company said the brands collectively are expected to garner sales of USD 2-3 mn in FY 2007.

Bouwer-Bartlett has obtained global intellectual property (IP) rights for the products and will initially market the products within South Africa with a view to gradually sell them in other geographics. The acquired basket comprises anti-diarrhoeal, anti-inflammatory, analgesic, expectorant, anti-protozoal, anti-acid and multi-vitamin products.

The move supports the companys strategy of emerging as a speciality/brand company marketing novel drugs in the African continent. Glenmark is already present in over 30 of the 54 markets in Africa and this pipeline will help strengthen its presence in the region.

UNI