iNova Pharmaceuticals has unveiled its plans to acquire a portfolio of consumer healthcare brands including the BETADINE product franchise from UK-based Mundipharma International for an enterprise value of $540m.
The deal is expected to broaden iNova’s portfolio of consumer health products and add substantial new sales in high-growth markets.
iNova, a pharmaceuticals company working in the areas of cough & cold, throat, skincare, and natural health, said that upon completion of the deal, more than 80% of its total product sales will come from its portfolio of consumer health products.
The deal, subject to customary closing conditions as well as regulatory approvals, will also see Asia as the largest region in terms of sales, representing around 35% of the firm’s income.
Additionally, the combined company will have a significantly wider geographic footprint with extensive coverage of Asian and Middle Eastern regions as well as an increasing presence in Europe and Canada.
The pharmaceutical firm said that the range of acquired assets has a good financial profile with multiple drivers for growth, including marketing to expand sales and new product innovation.
iNova CEO Dan Spira said: “This acquisition transforms the scale of iNova and accelerates our market expansion to high-growth markets in Asia and the Middle East.
“Moreover, it demonstrates how iNova is implementing its strategic expansion through M&A, capturing a foothold in high-growth categories and new markets with highly credible, trusted consumer health brands.”
“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.”
BETADINE is a brand that specialises in antiseptic first-aid products. iNova said that BETADINE accounts for around 90% of sales of the acquired product portfolio.
In four years, the firm has completed 15 acquisitions, all funded in cash.
