Pharma company Strides Shasun got competition watchdog CCI's approval to acquire seven brands from consumer healthcare firm Johnson and Johnson. Through the deal, Strides will buy Johnson and Johnson's seven brands in dermatology, anti-emetic and pain management segments. The brands Strides will acquire include Otogesic ear drops, Ethnorub ointment and Stugil tablets.
In a tweet, the Competition Commission of India (CCI) said, "... approves acquisition of certain brands of Johnson and Johnson by Strides Shasun Limited." However, Strides did not give financial details. The company has been in an acquisition mode to expand its market presence.
In a separate transaction, the company, in October last year, had also acquired a majority stake in domestic branded business of Medispan. Furthermore, it had acquired Sun Pharmaceutical's two business divisions in India for Rs 165 crore. These divisions deal in products for the central nervous system.
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