Fulford (India) Ltd, a public listed unit of global pharma giant Merck & Co, has transferred the marketing rights for its parent's consumer care products to Bayer Pharmaceuticals Private Limited (Bayer) as part of a global deal.
The deal straddles products Alaspan, Polaramine and Tinaderm (including the trademarks), which were marketed by Fulford (India) Limited. Bayer will completely take over the marketing and distribution of the products with effect from January 1, 2015, the firm said in a stock market disclosure.
German pharmaceutical and chemical company Bayer had completed the acquisition of the consumer care business of the US-based pharmaceutical major Merck & Co recently.
Merck’s consumer care business includes leading brands such as Claritin, Coppertone and Dr. Scholl’s. Some of these are also present in the Indian market.
Bayer had to shell out $14.2 billion, less certain contingent amounts held back that will be payable upon antitrust approvals in Mexico and the Republic of Korea.
This acquisition makes Bayer the global number two in non-prescription products following recently announced consolidations in this highly attractive and growing healthcare industry segment, and significantly enhances Bayer’s business across multiple therapeutic categories and geographies.
(Edited by Joby Puthuparampil Johnson)