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MEXICO CITY — Genomma Lab, one of the leading pharmaceutical and personal care products companies in Mexico with an increasing international presence, announced it has purchased three over-the-counter brands in the United States, in two separate transactions as part of its strategy to strengthen its presence in the U.S. branded consumer health market.
Genomma Lab USA Inc., the Company’s U.S. subsidiary, recently acquired the Bufferin brand from Dr. Reddy’s Laboratories Ltd., and in a separate transaction acquired the Cheracol D and Rose Milk brands from Sheffield Pharmaceuticals.
“The three heritage brands we acquired have a strong brand equity and consumer recognition built over several decades, at levels above our expectations relative to the purchase price. The acquisition will therefore complement our business well; leveraging our marketing and distribution capabilities while enhancing our presence in the U.S. over-the-counter market. We are excited to add three strong, well-known names to our U.S. portfolio,”commented Máximo Juda, chief executive officer of Genomma Lab.
“A total investment of US$3.02 million was paid fully in cash, with benefit of Genomma’s strong Balance Sheet,”added Antonio Zamora Galland, chief financial officer of Genomma Lab.
Genomma plans to revitalize these heritage brands and to execute a full relaunch by 2020. The deepening of Genomma’s offering in the U.S. complements the Company’s strong Latin America O-T-C presence.
