Ahmadabad-based Paras Pharma, has attracted four powerful multinational drug makers bidding in for the sale of the brand. Majors like GlaxoSmithKline, Sanofi-Aventis, Novartis, and Johnson & Johnson have put in concrete bids for the over-the-counter unlisted (OTC) drug enterprise. Indian FMCG companies, on the other hand have so far stayed out of the race.“While more serious players such as Japan’s Taisho Pharmaceuticals are expected to join the race, domestic FMCG majors like Emami and Dabur are unlikely to place a bid for the company,” said one of the sources reported Business Standard.
Paras owns some of the fast moving healthcare products in the domestic market such as Moov, DermiCool and Krack. The OTC portfolio of Paras recorded revenues of Rs 400 crore in 2009.
Posted on: 13.10.2010