Corona Remedies Buys Sanofi India's Ortho Brand Myoril
Certainly! Corona Remedies, an Ahmedabad-based pharmaceutical company, recently made a significant acquisition. They acquired the muscle relaxant brand Myoril from Sanofi India for ₹234 crore. This strategic move includes not only the Myoril brand but also its extensions. The acquisition is particularly noteworthy because it marks Corona Remedies’ largest acquisition to date and positions them as a key player in the muscle relaxant segment1. Myoril is a well-established brand known for its efficacy and enjoys a high level of trust among orthopedic professionals in India. With annual sales of ₹38 crore and a growth rate of 6.8% (according to IQVIA May 2023 data), Myoril will significantly boost Corona Remedies’ portfolio as their first offering in the muscle relaxant category. The muscle relaxant market in India is valued at ₹1,626 crore and is growing at a rate of 13%2. By leveraging this market opportunity, Corona Remedies aims to capitalize on the potential of the muscle relaxant segment. Their strong presence in the western and southern regions of India will facilitate increased market penetration and coverage for Myoril in the orthopedics and physician space1. This acquisition follows Corona’s previous successful acquisitions of drug brands from GlaxoSmithKline and Abbott India, further solidifying their position in the pharmaceutical industry1. The company, founded in 2004, enjoys leadership positions in women’s health, infertility, cardiometabolic conditions, and orthopedics. With WHO-GMP/EU GMP-approved facilities and DSIR-approved R&D centers, Corona Remedies continues to innovate and contribute to healthcare advancements1. The acquisition of Myoril is a strategic move that aligns with their growth objectives and market expansion plans. The muscle relaxant market is expected to continue growing due to factors such as rising geriatric populations worldwide and an increase in musculoskeletal disorders. As the prevalence of these conditions worsens, the demand for muscle relaxant drugs is likely to rise, making Myoril a valuable addition to Corona Remedies’ portfolio2. Overall, this acquisition represents a significant milestone for both companies and underscores the dynamic landscape of the pharmaceutical industry in India