Date:28/09/2004 URL: http://www.thehindubusinessline.com/2004/09/28/stories/2004092800560700.htm

Back Indoco acquires anti-cold brand Karvol from Solvay

Our Bureau

Mumbai , Sept. 27

THE Mumbai-based pharma company Indoco Remedies Ltd has acquired anti-cold segment brand Karvol Plus from Slovay Pharmaceuticals, for an undisclosed sum.

"Karvol Plus has an annual sale of approximately Rs 6 crore at present and we intend to double the sales in next two years," Mr Suresh Kare, Chairman, Indoco, told mediapersons here on Monday.

The acquisition is expected to bolster Indoco's current line of products — Febrex Plus in the anti-cold and Tuspel Plus, a cough syrup. These brands registered annual sales of Rs 35 crore, contributing 19.5 per cent of the total turnover for year ended June 2004, the company said. Meanwhile, the company has also embarked on an estimated Rs 75-crore expansion, over the next 18 months.