iNova Pharmaceuticals has entered a deal to acquire a consumer healthcare brand portfolio primarily made up of the BETADINE® product franchise from Mundipharma International.
The acquisition will bolster the consumer healthcare platform of iNova and contribute to additional sales in high-growth regions.
Once the acquisition is concluded, the consumer health product portfolio of iNova will account for more than 80% of its total sales of products.
The merged business will have an improved geographical footprint with broad coverage in Asia and the Middle East and an additional presence in Canada and Europe.
iNova Pharmaceuticals CEO Dan Spira stated: “Betadine has tremendous global brand equity with over 60 years of use by healthcare professionals and consumers worldwide.
“We see significant potential to build on this heritage and make it the most trusted antiseptic brand throughout iNova’s geographies.”
With a presence in more than 20 countries across Africa and the Asia-Pacific region, the firm focuses on products chiefly in the throat, cough and cold, natural health and skincare areas.
In January 2021, the European Commission adopted the recommendation of the European Medicines Agency’s committee for orphan medicinal products to grant orphan drug designation to Mundipharma and Cidara Therapeutics’ rezafungin to treat invasive candidiasis.
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