"The Mumbai-based company has entered into an alliance with Haw Par India, a wholly-owned subsidiary of Singapore's Haw Par Healthcare, to exclusively market and distribute Tiger Balm range of products in the country," Alkem Labs said in a regulatory filing.
Tiger Balm is used for headaches, upper respiratory congestions, arthritic pains and muscular sprains.
"Combined with Alkem's strong sales and distribution infrastructure and robust executional capabilities in India, we believe it is a befitting alliance which cannot only grow Tiger Balm's franchise in India but can also add significant thrust to Alkem's OTC business," Alkem CEO Prabhat Agrawal said.
Tiger balm features amongst the top 10 brands in the topical OTC analgesic market in India.
Alkem shares were trading 0.45 per cent down at Rs 1,805.65 on the BSE.
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