SINGAPORE – iNova Pharmaceuticals is in advanced talks to acquire a portfolio of consumer health product brands from Mundipharma International Limited for up to US$540 million.
The proposed buyout deal comes barely a year after TPG Inc. acquired a majority stake in iNova Pharma. At the same time, existing investor Pacific Equity Partners (PEP) re-invested as a minority stakeholder.
“The deal will significantly expand iNova’s portfolio of consumer health products and add substantial new sales in high-growth markets,” Chief Executive Officer of iNova Pharmaceuticals, Dan Spira, said in a statement.
Upon closing this million-dollar investment, iNova Pharmaceuticals will widen its distribution channels as well as scale its operations and product offerings to include Betadine antiseptics.
iNova Pharmaceuticals owns and distributes a wide range of pharmacy products and prescription medicines.
The company’s product portfolio spans across weight management, cough, cold and flu treatment, pain management, health supplements, dermatology, sun care, and female health products.
“Betadine has tremendous global brand equity with over 60 years of use by healthcare professionals and consumers worldwide,” underscored iNova Pharmaceuticals CEO Dan Spira.
The Singapore-headquartered company is set to scoop up Mundipharma’s consumer health product brands, which primarily consist of the Betadine product franchise.
Headquartered in Cambridge, the United Kingdom, Mundipharma markets and develops analgesics for treating moderate to severe pain.
Mundipharma also conducts clinical research and trials to test for new respiratory and cancer medications.
Overall, the UK-based organization holds worldwide product registrations for treatments in pain management, infectious diseases, consumer health care, as well as various debilitating conditions.
Mundipharma operates mainly in the distribution or wholesale industry and it is owned by the billionaire Sackler family.
It is speculated that Mundipharma’s consumer healthcare business is slated for sale to help pay for claims against the billionaire Sackler family members and Purdue Pharma LP over their role in the United States opioid crisis.
What’s more, rumours are circulating in the healthcare community that Mundipharma’s attempt to sell its China assets was halted last year after bids failed to reach the owner’s expectations.
Moreover, Mundipharma has agreed to sell its consumer health product portfolio of brands to iNova Pharmaceuticals as part of a shared vision to accelerate access to affordable, safe medications worldwide.
Mundipharma is part of a global network of independent associated privately owned pharmaceutical companies and joint ventures.
On the other hand, iNova Pharmaceuticals has a presence in more than 20 countries across Africa and the Asia-Pacific region.
The proposed deal is projected to expand the combined business’ footprint with broad coverage in Asia and the Middle East and an additional presence in Canada and Europe.
“Betadine is the flagship brand of Mundipharma’s consumer health business. We see significant potential to build on this heritage and make it the most trusted antiseptic brand throughout iNova’s geographies,” noted Dan Spira.
Once the acquisition is concluded, the consumer health product portfolio of iNova will account for more than 80% of its total sales of products.
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