Pfizer buys AstraZeneca's Neksium antacid

Pharmaceutical major Pfizer India has signed an agreement with AstraZeneca’s Swedish arm to acquire the latter’s drug, Neksium, for Rs 75 crore. 

Neksium was launched in India in 2006 and had developed strong equity with doctors, as a leading, high-quality product in the anti-peptic ulcerant space. 

“The Neksium acquisition is aligned with our stated ambition of portfolio expansion through organic and inorganic growth in our focus therapy areas. With this acquisition, we will accelerate our growth and strengthen our leadership position in the gastrointestinal therapy area.” said S Sridhar, managing director, Pfizer.

This is the second deal Pfizer and AstraZeneca have got into in the past year. Pfizer had acquired AstraZeneca’s antibiotics business for $1.5 billion. 

This was part of AstraZeneca’s plan to restructure its business in India. 

AstraZeneca had a patent for Neksium till 2014. Pfizer has been in the antacid space for three decades. 

Gelusil and Mucaine are two other drugs in the antacid space the company has.