INOVA is set to acquire the consumer health product portfolio from Mundipharma International, which is primarily made up of the Betadine brand.
The company stated this acquisition will add substantial scale to iNova's portfolio of higher-growth consumer health medicines, and aims to expand iNova's geographic footprint.
The combined business aims to 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.
Following the transaction, iNova's consumer health product portfolio will account for over 80% of its total product 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."
He added consumer health products are currently benefiting from several structural tailwinds, ageing 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.
The transaction is the culmination of a global sales process run by Deutsche Bank.
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