Pharma major Nicholas Piramal India (NPIL) has entered into a definitive agreement with Mumbai-based Khandelwal Laboratories (K-Lab) to acquire its Anafortan and CEFI drug brands for Rs 116 crore.
Under the agreement, K-Lab will allow NPIL the use of certain patents with non-compete assurances for the two cefixime and Camylofin based drugs. The two drug groups generated revenues of Rs 49.1 crore, with operating margins of Rs 20.7 crore for the financial year ended March 31, 2008.
CEFI (cefixime) is a third generation cephalosporin antibiotic and K-Lab’s CEFI group is marketed in India in nine dosage forms. Its CEFI-XL and CEFI-OD, are based on extended release and once-a-day drug delivery systems.
K-Lab has won patents from the Indian Patent Office for these delivery systems. The CEFI group had revenues of Rs 26.2 crore for the year ended March 31, 2008.
Read more in The Business Standard article.
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