Mumbai, Oct. 28: German Remedies Ltd has decided to acquire five trade marks on a perpetual assignment basis from Zydus International Pvt Ltd, Ireland, (ZIPL), a wholly-owned subsidiary of Cadila Healthcare Ltd, that acquired these trade marks from German firm Asta Medica AG last year.
The company told the stock exchanges today that the decision to acquire the five— Deriphyllin, Paractol, Ildamen, Xipamid and Beta-Xipamid—was taken at its board meeting held on October 25. Cadila, it added, has agreed to transfer the same rights to German Remedies at the cost at which it acquired them.
With this, the company will have complete and unfettered ownership of the five trademarks (not mere licence) in the assigned territories. Moreover, it will have the right to market the products using these trade marks in several countries besides India, including neighbouring countries like Sri Lanka, Nepal, Bhutan, and in many south-east Asian, African, American and EIS countries.
It will also have the right to introduce brand and line extensions and source active ingredients at the best commercial rates.
Earlier, Cadila Healthcare Ltd had bagged a 27.72 per cent controlling stake in German Remedies at a price of Rs 650 per share, aggregating Rs 148.6 crore from Asta Medica and Heller Vermogensverwaltungs GmbH.
Simultaneously, Cadila also entered into an agreement to acquire, through a subsidiary, perpetual rights to five brands for a total consideration of Rs 52.6 crore.