Indian drug maker, Wockhardt Ltd today said it has acquired Dumex India Pvt Ltd along with its two products Protinex and Farex from the Netherlands-based Royal Numico NV for an undisclosed sum.
The company plans to change the acquired company's name to 'Dumex' within six months, Wockhardt informed the Bombay stock Exchange.
"Acquisition of Protinex and Farex is a critical milestone in our growth plans in nutrition business. Today's acquisition makes us the undisputed leader in medical nutrition. The global market for medical nutrition is worth USD 32.5 billion," Wockhardt Chairman Habil Khorakiwala said.
Under the agreement, Royal Numico would also offer technical know-how to the company for the manufacture of specialised sugar-free infant food products currently marketed in India and internationally, under its brand names Dulac and Dupro.
The acquisition has the potential to double its nutrition products sale to Rs 120 crore as Protinex and Farex complements its product range, it added.
The company would inherit a strong sales and marketing organisation with 235 personnel and the acquisition follows Royal Numico's decision to focus on China and other markets.
The company has a strong presence in infant nutrition with Dexolac, Nusobee and Firstfood brands, with annual sales of ab out Rs 60 crore.
The company is also in talks with global companies for in-licen sing medical nutrition products.