Reckitt in £460m deal for Paras

first_img Tags: NULL Reckitt in £460m deal for Paras Share Consumer goods firm Reckitt Benckiser has agreed to buy privately-held Indian company Paras Pharmaceuticals for about $726m (£460m), to boost its operations in a fast-growing healthcare market.Big global healthcare firms are fast driving into emerging markets as sales stall in developed countries and as they look to tap into the healthcare needs of billions of new consumers in places such as China, India, Brazil and Russia.Paras, which clocked sales of more than four billion rupees in the financial year ended March, makes several over-the-counter medications, including Moov pain relief ointment, Krack heel care lotion, and D’Cold cold remedy.“The research base of companies and the market potential in India are the main attractions for foreign players in the Indian healthcare sector,” said R.K. Gupta, managing director at Taurus Asset Management Company in New Delhi.“We will see these kind of deals in the future as well as global drug makers step up their efforts to capture a bigger share of the emerging markets.”Private equity firm Actis will sell its 63 per cent stake in Paras to Reckitt Benckiser. Other shareholders including Sequoia Capital and Paras founder Girish Patel and his family will also sell their stakes to the company.“It creates a material healthcare business in India, one of the most promising healthcare markets in the world with the addition of number of strong and leading brands,” Reckitt Chief Executive Bart Becht said in a statement.Reckitt has in its stable a number of household names including cleaner Cillit Bang. whatsapp John Dunne center_img Show Comments ▼ More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeCuteness56 Animal Puns For a Quick LaughCutenessBewadaHusband Divorced His Wife After Looking Closer At This PhotoBewadaadvisor15 Plants that Repel Mosquitoes NaturallyadvisorBuzzDestination7 Types of Men Who Are Not Made For RelationshipsBuzzDestinationcutenova.comTake a Peek at 10 of the Most Expensive Houses in the Worldcutenova.comwomengetfreebies.comGet free samples sent to your home. 100% free. Sign up Nowwomengetfreebies.comCleaning Services | Search AdsHere’s What Cleaning Services In Scottsdale Should Actually CostCleaning Services | Search AdsMike HistoryAt 66, This Is Bruce Willis’ Private CarMike HistoryCrawl Space RepairFoundation Repair Cost In Scottsdale May Surprise YouCrawl Space Repair Monday 13 December 2010 2:43 am whatsapplast_img

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