Drug-maker Elder Pharmaceuticals has acquired UK-based Max Healthcare for an undisclosed sum.
The acquisition is through Elder’s fully-owned UK subsidiary, NutraHealth, and will mark its re-entry into the over-the-counter (OTC) pharmaceutical category. NutraHealth provides innovative branded and own-label vitamin and food supplements in the UK.
Just last week, Elder was fending off reports about putting part of its business on sale in India.
Max Healthcare is an OTC business that also owns a range of marketing authorisations and provides own label and branded OTC medicines and products to different customers.
It predominantly is an outsourced operation with most of its manufacturing taking place in India, Elder said.