New Delhi: Nicholas Piramal India Ltd and Khandelwal Laboratories announced signing of a definitive agreement for purchase of Anafortan and CEFI brand groups of K-Lab by NPIL for Rs1,160 million.
As part of the agreement, K-Lab will provide NPIL with certain patents’ use and non-compete assurances for Cefixime and Camylofin based drugs.
Anafortan and CEFI Groups had revenues of Rs491 million and Ebidta of Rs207 million for the financial year ended 31 March 2008. CEFI Group consists of third-generation, wide-application, Cefixime-based formulations in pure and combination forms. CEFI offers unique therapeutic value to patients and is marketed in nine dosage forms, including CEFI-XL and CEFI-OD, based on extended release and once-a-day drug delivery systems.
K-Lab won patents from the Indian Patent Office for these delivery systems. CEFI Group had revenues of Rs262 million for the year ended 31 March 2008. As per ORG-IMS, Cefixime-based drugs segment is worth Rs6,246 million and is growing at 25.4% on MAT-FEB-08 basis.
Anafortan is the only smooth muscle, anti-spasmodic drug of its kind in India. It consists of six Camylofin-based formulations in pure and combination forms. Known to be a safe anti-spasmodic drug it does not cause side effects in infants and pregnant women. Anafortan had revenues of Rs229 million for the year ended 31 March 2008. As per ORG-IMS, Camylofin-based drugs market grew at 13.5% on MAT-FEB-08 basis.
Ajay Piramal, chairman, Nicholas Piramal, said “We will be able to offer therapeutic value to patients across India with our national sales and distribution network.”