Pfizer to buy AstraZeneca's antacid Neksium for Rs 75 cr

Acquired drug to boost Pfizer's GI tract therapy biz, where it already owns Gelusil and Mucaine

Pfizer Limited (India) today informed the stock exchange that it has entered into an agreement with AstraZeneca AB, Sweden, to acquire the brand Neksium in India for a value of Rs 75 crore. The transaction is subject to completion of requisite clearances, a press release issued by the company said.
 
Neksium was launched in India in the year 2006 and has developed strong equity with prescribers as a leading, high quality product in the Anti-Peptic Ulcerant space.

Neksium, with the active ingredient Esomeprazole belongs to a family of pharmaceutical preparations called Proton Pump Inhibitors (PPI) that are used effectively for reducing acid secretion in the stomach. It is widely prescribed for the treatment of conditions across the Acid Peptic Disorders (APD) spectrum.

“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 (GI) therapy area.” said S Sridhar, Managing Director, Pfizer Ltd.

With brands such as Gelusil and Mucaine, Pfizer Limited has been providing strong and effective solutions in the antacid space for over 30 years. The company claims it is uniquely well placed to grow the Neksium brand further through its existing reach, coverage and equity in the GI therapy area.