Cipla Medpro guns for Aspen and Adcock with R450m acquisition
Cipla Medpro is buying Broncol cough syrup maker Mirren to expand its over-the-counter portfolio and challenge the dominant players
Cipla Medpro has acquired pharmaceutical manufacturer and distributor Mirren for R450m.The deal is intended to help SA’s fourth-biggest pharmaceutical company to expand its over-the-counter portfolio.Cipla Medpro CEO Paul Miller said the deal would enable the company to challenge Aspen Pharmacare and Adcock, the dominant players in the over-the-counter market."We don’t have a strong presence in the pain, cold and flu category. We think the deal will give us faster access to this space," he said.The deal, which is still subject to regulatory approval, will be funded through debt.Cipla Medpro, which also distributes antiretroviral drugs to 800,000 HIV patients on a monthly basis, is wholly owned by Cipla India, the global pharmaceutical company.Mirren, which owns brands such as Broncol cough syrup, Coryx, Tensopyn and Ultimag, has been in operation for 35 years."The acquisition by Cipla will help ensure that the continued growth that the Mirren brands have achieved over the past three...
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