Corona Remedies announced the acquisition of Abbott India's Obimet and Thyrocab brands, comprising 14 product line extensions, reported The Economic Times.
Both these brands are prescription drugs indicated to manage diabetes and hyperthyroidism, said Tejas Kothari, head of strategy at Corona.
The brands "are expected to garner sales revenue of around Rs 25 crore in the first year of integration," Kothari added.
In addition to the acquisitions, Corona also announced the set-up of its second manufacturing facility at Bavla near Ahmedabad.
Vijay Charlu, vice president of sales and marketing, said "the new plant will mostly cater to the European market [and] will become operational by the end of 2019."
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