SOHM Announces the Acquisition of Novatrend Medicament Private Limited
by RealPTC Expert
SOHM, Inc., a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories, today announces the acquisition of business and brands of privately owned Novatrend Medicament Pvt. Ltd.
Shailesh Shah, President and CEO of SOHM, Inc., stated, "We are very pleased to announce this acquisition and believe it is an important strategic move for SOHM, expanding our presence in the rapidly growing pharmaceutical market. After a thorough due diligence process and proper financing arrangements, we have completed the previously announced acquisition of the tangible and intangible assets, rights and technical intellectual property and formulation of all the products of Novatrend Medicament Pvt. Ltd. This acquisition will bring in a range of Dermatology and Cosmeceutical products to the product portfolio of SOHM, Inc."
The Indian pharmaceutical market is currently valued at USD 10 billion. It is one of the fastest growing pharmaceutical markets in the world and is forecasted to grow in double-digits in medium term. The Indian dermatology market, valued at USD 513 million, grew by 21% in 2010 and represents 25% of the Asia-Pacific dermatology market with a CAGR of 15% (2005-2010) and is a significant growth driver of the Indian pharmaceutical market.
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