“With this strategic acquisition, we will be expanding our portfolio into a new category of weight gain, thereby catering to a very specific nutritional need for a set of our consumers,” Cipla Health Ltd (CHL) CEO Shivam Puri said.
The acquisition is subject to completion of certain closing conditions and CHL would immediately initiate distribution and marketing of the said products pending the closure of the proposed acquisition, the filing added.
Cipla said CHL, through this acquisition, is well positioned to further build and develop the nutrition supplement category through its strong existing offline and online distribution channels. It has 12 brands within the portfolio.
Pharma major Cipla Ltd on Thursday said its arm Cipla Health Ltd has signed definitive agreements to acquire nutritional supplement brand Endura Mass from Medinnbelle Herbalcare for an undisclosed sum. The acquisition is in line with Cipla’s strategic imperative to augment its wellness portfolio for bringing about a shift from an illness to a wellness mindset. It will include Endura and all other associated trademarks, the company said in a regulatory filing.
He further said, “The addition of Endura & Endura Mass to our portfolio hence perfectly complements our existing offerings across all key OTC/wellness categories and would hence help us offer an even more comprehensive solution to all key consumer needs.”