MEXICO CITY, June 14, 2018 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LABB) ("Genomma Lab" or "the Company"), one of the leading pharmaceutical and personal care products companies in Mexico with an increasing international presence, today announced it has purchased three over-the-counter (OTC) brands in the United States, in two separate transactions as part of its strategy to strengthen its presence in the U.S. branded consumer health market.
Genomma Lab USA Inc., the Company's U.S. subsidiary, recently acquired the BUFFERIN® brand from Dr. Reddy's Laboratories Ltd., and in a separate transaction acquired the Cheracol D® and Rose Milk® brands from Sheffield Pharmaceuticals, LLC.
"The three heritage brands we acquired have a strong brand equity and consumer recognition built over several decades, at levels above our expectations relative to the purchase price. The acquisition will therefore complement our business well; leveraging our marketing and distribution capabilities while enhancing our presence in the U.S. OTC market. We are excited to add three strong, well-known names to our U.S. portfolio," commented Mr. Máximo Juda, CEO of Genomma Lab.
"A total investment of US$3.02 million was paid fully in cash, with benefit of Genomma's strong Balance Sheet," added Mr. Antonio Zamora Galland, CFO of Genomma Lab.
Genomma plans to revitalize these heritage brands and to execute a full relaunch by 2020. The deepening of Genomma's offering in the U.S. complements the Company's strong Latin America OTC presence.
About Genomma Lab Internacional
Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest growing pharmaceutical and personal care products companies in Latin America. Genomma Lab develops, sells and markets a broad range of Premium branded products, many of which are leaders in the categories in which they compete in terms of sales and market share. The Company has a sound business model through a unique combination of a new product development process, consumer oriented marketing, a broad retail distribution network and a low‐cost, highly flexible supply chain operating model. For more information visit: www.genommalab.com
Genomma Lab's shares are listed on the Mexican Stock Exchange under the ticker "LABB" (Bloomberg: LABB:MM).
Note on Forward-Looking Statements
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SOURCE Genomma Lab Internacional, S.A.B. de C.V.