Piramal Enterprises today said it has acquired over-the-counter (OTC) skincare brand Caladryl in India from Valeant Pharmaceuticals International Inc for an undisclosed sum.
"This acquisition enables Piramal Enterprises Ltd (PEL) to widen its consumer products portfolio in the skincare segment," the company said in a filing to the BSE.
The brand Caladryl in India was owned by Valeant Pharmaceuticals, after acquiring the rights to the brand from Johnson & Johnson in 2012.
Caladryl is an anti-pruritic solution known for dermatosis application for minor skin irritations and itching.
PEL's current consumer products portfolio includes brands such Pill, Itchmosol and Supractiv Complete, along with niche market brands like Can, Jungle Magic, Tetmosol and Triactiv.
The company has been taking the acquisition route to strengthen its overall business. Last year, it acquired US-based Decision Resources Group for a consideration of nearly USD 635 million (Rs 3,400 crore) to boost research and development.
Later, Decision Resources acquired UK-based integrated market access service provider Abacus International for an undisclosed sum.
Shares of PEL were trading at Rs 566.15 per share in the afternoon trade, up 0.58 per cent from the previous close on the BSE.