 "Strides arm acquires PediaCare brand from Swedish co for $5mn")
Drug firm Strides Shasun has inked a pact with Sweden's Moberg Pharma to acquire PediaCare brand for over $5 million.
The company's wholly-owned subsidiary Strides Arcolab International Ltd, UK has entered into an agreement with Moberg Pharma to acquire the PediaCare brand for a total consideration of $5 million plus inventory value at closing, Strides Shasun said in a statement.
PediaCare is an established paediatric cough, cold and allergy brand with annual sales of around $6 million.
"PediaCare will form an important part of Strides expanding consumer health care portfolio and brings with it expertise in the paediatric segment as well as a strong brand name with global potential," Strides Shasun said.
Shares of Strides Shasun ended 0.63% up at Rs 1,081.05 on BSE.
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