Financial Daily from THE HINDU group of publications
Tuesday, Jul 20, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 20, 2004 |
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Corporate
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Announcements Bayer-Roche deal `unlikely' to hit Saridon, Supradyn P.T. Jyothi Datta
Mumbai , July 19 WILL popular pain-relief and headache pill Saridon and multi-vitamin product Supradyn, currently promoted by Nicholas Piramal India Ltd (NPIL), take the rap of Bayer's global acquisition of Roche's over-the counter (OTC) business? Dr G.L. Telang, Managing Director, Roche Scientific Company (India) Ltd, told Business Line that while the "depth of the global agreement will have to be looked into, all Roche's OTC brands in India are currently sold by NPIL." While Saridon is one such OTC drug sold in India, Supradyn is sold globally as an OTC; however, in India it is sold as a prescription drug. The estimated Rs 22-crore Saridon is sold in India by Boots Piramal and, according to NPIL top brass, "The global development is unlikely to have an impact on local products, since NPIL has a water-tight agreement with Roche. The agreement covers the brand and not the ownership, so even if the owners change from Roche to Bayer, this is unlikely to impact the brands. And the agreement was formalised in 1993 for 25 years, so there is still about 14 more years to go." Also, since NPIL has multiple agreements with Roche for different products, it will take time to infer the final impact on the products, the official said. Not too long ago, some of Roche's ethical or prescription drugs returned to its portfolio from the NPIL stable, analysts point out. And it is in this "maze of agreements" that the impact of Monday's development will be found. On Monday, Bayer agreed to buy Roche Holding's non-prescription drug unit for 2.38 billion euros ($2.94 billion), to become one of the top three sellers of OTC medicines.
More Stories on : Announcements | Mergers & Acquisitions | Pharmaceuticals
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