Companies

Encube Ethicals to acquire Soframycin for India and Sri Lanka markets from Sanofi

Our Bureau | | Updated on: Nov 26, 2021
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The transaction is expected to close within the next 3 months

Encube Ethicals (‘Encube’) has agreed to enter into definitive agreements with Sanofi group and its affiliates, including Sanofi India, for acquiring some of its brands — Soframycin and other legacy associated brands Sofradex, Sofracort, Soframycin-Tulle for India and Sri Lanka markets. Soframycin Skin Cream has a legacy of more than 50 years in India with a vast distribution network and strong brand recall.

Encube, a leading manufacturer of Rx and OTC skincare products globally, will take the first step towards addressing the Indian market with its own labelled products. Encube has manufactured Soframycin Skin Cream for 20+ years and will vertically integrate upwards to have a front-end B2C presence in India.

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Mehul Shah, Founder and Managing Director, Encube, said, “We are committed to improving patient and consumer well-being through quality and science based topical products. Encube’s focus of 23+ years in skincare research and manufacturing will be leveraged to make a house of skincare brands starting with the deep-rooted legacy of Soframycin. We share a relationship of trust and respect with Sanofi and are privileged to be custodians of Soframycin in its next journey.”

Rajaram Narayanan, Managing Director, Sanofi India, said, “Across the world, Sanofi regularly assesses the best ways in which to serve patients. Accordingly, this decision has been taken to sell the brands to Encube, keeping in mind our strategic priorities and long-term road map. Together, we are committed to ensuring a smooth transition for the benefit of our customers–the patients and consumers of India and Sri Lanka, and other stakeholders.”

The transaction is expected to close within the next 3 months. .

Published on November 26, 2021

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