- iNova to acquire consumer health product portfolio from Mundipharma International, primarily made up of the BETADINE® product franchise
- Acquisition adds substantial scale to iNova’s portfolio of higher growth consumer health medicines and expands iNova’s geographic footprint, especially in Asia and the Middle East
SINGAPORE & SYDNEY, 26 June 2023 – iNova Pharmaceuticals is expanding its leading consumer healthcare platform through the acquisition of a portfolio of trusted, well-known consumer healthcare brands, anchored by the iconic BETADINE® product range.
The deal, effected via a business sale from Mundipharma International, will significantly expand iNova’s portfolio of consumer health products and add substantial new sales in high-growth markets.
Following the transaction, iNova’s consumer health product portfolio will account for over 80% of its total product sales. The combined business will have a substantially larger geographic footprint with comprehensive coverage across Asian markets and the Middle East, with additional presence across Europe and Canada. Asia will represent iNova’s largest region following the deal.
Consumer health products are currently benefiting from several structural tailwinds: aging and growing populations, rising discretionary incomes, and the post-COVID shift towards preventative healthcare. The portfolio of acquired assets has an attractive financial profile with multiple drivers for growth, including new product innovation and marketing to expand sales.
“This acquisition transforms the scale of iNova and accelerates our market expansion to high-growth markets in Asia and the Middle East,” said Dan Spira, CEO of iNova. “Moreover, it demonstrates how iNova is implementing its strategic expansion through M&A, capturing a foothold in high-growth categories and new markets with highly credible, trusted consumer health brands.”
“Betadine has tremendous global brand equity with over 60 years of use by healthcare professionals and consumers worldwide. We see significant potential to build on this heritage and make it the most trusted antiseptic brand throughout iNova’s geographies.”
The transaction is the culmination of a global sales process run by Deutsche Bank.
Closing Conditions and Use of Proceeds
The close of sale is subject to customary closing conditions as well as regulatory approvals. Mundipharma will provide transitional services for a temporary period in certain markets post-closing.
Mundipharma’s beneficial owners and iNova have agreed that all the net sale proceeds will be held in escrow and deployed towards abating the opioid crisis in connection with the resolution of legal claims.
ABOUT INOVA PHARMACEUTICALS
iNova Pharmaceuticals is a multinational pharmaceutical and consumer health care company that markets and sells a wide range of market-leading products, primarily in the areas of cough & cold, throat, skin care and natural health. iNova Pharmaceuticals operates in over 20 countries across Asia-Pacific and Africa. iNova Pharmaceuticals’ vision is to provide trusted brands that improve people’s health and well-being every day. More information about iNova Pharmaceuticals can be found at www.inovapharma.com.