Financial terms of the agreement weren’t disclosed. India-based Dr. Reddy’s, which has its U.S. office in Princeton, N.J., said the deal brings the company into the consumer health care arena.
The brands being acquired from New Hope, Pa.-based Ducere are Bufferin pain reliever/fever reducer tablets, Doan’s back pain relief caplets, Comtrex multisymptom cold/cough caplets (day and night formulas), Nupercainal hemorrhoidal ointment, Myoflex pain relief cream and Cruex fungal nail gel.
“These legacy products enjoy strong brand equity built over several decades,” stated Alok Sonig, executive vice president and head of North America at Dr. Reddy’s. “We are extremely excited to be entering the branded consumer health arena through these brands and embarking upon the next avenue of growth for our OTC business in the U.S.”
Ducere Pharma’s products are sold in more than 20,000 stores across the United States. Plans call for Dr. Reddy’s to build on the sales and marketing efforts for the brands as well as to drive their expansion in current markets and into new market channels, according to Sonig. Ducere has revitalized the brands through improved distribution and promotion, he noted.
“We think Dr. Reddy’s is well-positioned to continue the successful growth of these brands,” commented Samuel Hines, managing partner of investment firm Casla Capital Management LLC, Ducere’s parent. “We feel confident that our brand-loyal consumers will be well-served by the deal.”