Reckitt Benckiser buys Paras
Reckitt Benckiser said it will pay INR32.6bn for Indian drugmaker Paras Pharmaceuticals to build its position in the consumer healthcare sector.
Para, which generated revenue of INR3bn in its previous fiscal year, makes a number of leading Indian brands including topical pain ointments, cold and flu remedies and antifungals.
Para has its own manufacturing facility at its HQ in Baddi, Himachal Pradesh, where it employs over 700 people.
Reckitt Benckiser CEO, Bart Becht, said: “The acquisition of Paras is another step forward in RB’s growth strategy in consumer health care. It creates a material health care business in India, one of the most promising health care markets in the world with the addition of a number of strong and leading brands.”
Becht added that Reckitt “expects to realize material synergies as a result of the integration,” but did not provide additional information.
