Mankind Pharma said Wednesday said it has inked a pact with Dr. Reddy's Laboratories to acquire two brands: Combihale and Daffy. While Combihale is used to treat asthma and chronic obstructive pulmonary disease, Daffy is a soap-free moisturizing bar for infants.
Mankind Pharma said the Combihale market is valued at Rs 900 crore with growth of 14 percent.
Mankind Pharma said in a statement that the acquisition of the product is expected to strengthen the company's presence in the inhalation respiratory market segment.
It added that Daffy's total market value is valued at Rs 1,000 crore growing 18 percent.
"We believe these brands have enough potential to grow in the Indian market, and the best part of the acquisition is that these two brands fit perfectly into our portfolio and provides us the opportunity to grow and build the respiratory and dermatology business even further." Mankind Pharma President Atish Majumdar noted.
As per the terms of the definitive agreement executed between the companies, Mankind Pharma will take over the manufacturing, marketing and distribute both products in India.
The entire integration and transition of the brands is expected to be completed by March 2022.
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