Strides Shasun acquires 3 brands of Moberg Pharma

NEW DELHI: Drug firm Strides Shasun has completed the acquisition of three brands of Sweden-based Moberg Pharma.

The company in an earlier regulatory filing in March had said: "The company's wholly-owned subsidiary Strides Pharma Inc has entered into an agreement with Moberg Pharma, Sweden, and its affiliates to acquire Jointflex, Fergon and Vanquish brands for a total consideration of USD 10 million plus inventory value at closing."

The acquisition will strengthen the company's strategy to build a global OTC franchise, it had added.

"The Moberg brands that are currently marketed in the US, Australia and the Middle-East will further strengthen the OTC business of the company," it added.

Strides Shasun stock closed 1.96 per cent up at Rs 1,045 on BSE.