Deal Street

April 07, 2018

Corona Remedies acquires two brands from Abbott India


On April 2, Ahmedabad-based pharma firm Corona Remedies announced the acquisition of Obimet and Thyrocab brands, comprising of 14 product line extensions, from Abbott India.

The acquired brands are popular prescription drugs to manage diabetes and hyperthyroidism.

"This is the second brand acquisition by the company in the past year. Both these brands acquired by us are expected to garner a sales revenue of around Rs 25 crore in the first year of integration," Tejas Kothari, Head-Strategy at Corona said.

Krishna & Saurastri Associates LLP acted for Corona Remedies Pvt. both the brand acquisition transactions and the team was led by Partner, Mr. Manish Saurastri.

In addition to these acquisitions, Corona has also laid out an investment plan of Rs 60 crore towards setting up its second manufacturing facility at Bavla near Ahmedabad in Gujarat. Moreover, the company plans to fund the expansion through internal accruals.

Related Post

latest News

  • Headmasters Cannot Turn Down Teaching Work: High Court

    In an order with huge ramifications, the Punjab and Haryana High Court held that government can decide workload of school headmasters as it pays the s...

    Read More
  • Catalan independence declaration nullified: Spain Constitutional Court

    On October 31, Spain's Constitutional Court nullified Catalonia's October 27th declaration of independence.

    Read More
  • Protection of elderly: Former minister tells Supreme Court he failed

    Former Union Minister Ashwani Kumar, who has filed a plea for protection of rights of senior citizens, today conceded that he had failed both as a min...

    Read More