SOHM acquires Novatrend Medicament's product line in latest Indian forray
The firm – headquartered in the US with several manufacturing plants in India – first announced its takeover bid of the privately held firm’s wares back in August, in exchange for an undisclosed sum of money.
Through the deal, the firm has received 17 new products, six of which are new to the Indian market, and says its reach now extends “beyond generics to applied innovations in dermatology.”
Shailesh Shah, president and CEO of SOHM, added “There are a further 40 new products that are in the pipeline in coming years.
“These milestones also create an imperative need for more protective regime in IPR and trademark protection for SOHM group.”
SOHM will also incorporate Novatrend’s sales network within 120 distributors in seven US states.
Shah predicts additional revenues of $1.5m (€1.2m) during the next fiscal year.
Long-term goals
The latest move is just part of the company’s plans to break-out of the generics box into new fields, focussing on expansion in India.
In August the firm launched its prebiotic and probiotic diarrhoea treatment Diorac in the Indian market.
Shah said that the latest acquisition is a step in towards the business’ long-term goal of backward integration and conceptualizing unique innovation in the applied formulation range.
He added that in the future the firm plans to leverage Novatrend’s knowledge of new drug delivery systems, including transdermal innovation or transmucosal route therapies.
