FMCG major Emami Group has made Zandu Pharmaceuticals a fully owned subsidiary, according to company sources.
Earlier in October this year, Zandu Pharmaceutical entered into a share purchase agreement with Emami pursuant to which the latter acquired 18.18 per cent equity share capital of the former.
Post the acquisition of Zandu, Emami is aiming a total turnover of Rs 10-11 billion in the next fiscal.
Zandu has a total turnover of about Rs 1.6 billion with its flagship brand Zandu balm alone accounting for approximately Rs 1.2 billion.
—IndiaRetailing Bureau
