Piramal buys Cipla's i-pill for Rs 95 crore

Piramal Healthcare bought Cipla’s oral contraceptive brand, i-pill, for Rs 95 crore, to achieve its target of trebling its over-the-counter (OTC) drug business in three years. i-pill is an emergency contraceptive brand, that recorded Rs 31 crore sales last year, and competes with Mankind Pharma’s Unwanted 72, in a fast-growing, Rs 100-crore Indian market. 
The all-cash acquisition of the brand is part of Piramal’s efforts to grow its OTC drug business in India. Cipla sold the brand because it wishes to focus on its prescription products. Servicing just one OTC brand is not a good idea. It needs a large support system, which is better used by someone who has a basket of OTC products. Piramal will scout for more such acquisition in the OTC segment.