Strides Shasun to acquire Moberg Pharma’s PediaCare for $5 million

NEW DELHI: Strides Arcolab International, UK, a wholly owned subsidiary of Bangalore-based pharmaceutical company Strides Shasun, has entered into an agreement with Swedish Moberg Pharma to acquire its ‘PediaCare’ brand for a total consideration of $5 million plus inventory value at closing.

PediaCare, a paediatric cough, cold and allergy brand, has recorded annual sales of approximately US$ 6 million, Strides notified the Bombay Stock Exchange on Friday evening.

Shares of Strides Shasun rose 0.63% on Friday to close at Rs1,081.05 on BSE, where the benchmark Sensex ended 1.76% higher.