Corona Buys Myoril Brand from Sanofi Healthcare India for Rs 234 crore

Corona Remedies Pvt Ltd, based in the city, has announced the acquisition of the Myoril brand from global pharmaceutical giant Sanofi for Rs 234 crore. The Myoril brand will be acquired for the Indian market on June 28, 2023. Myoril is a well-known brand that is known for its efficacy and has a high level of trust among orthopaedic surgeons in the country. The brand has significant growth potential due to its strong market presence.

"The acquisition will help us become a key player in the muscle relaxant segment, and this will be our first offering in this category," said Nirav Mehta, director of Corona Remedies. The Indian muscle relaxant market is worth Rs. 1,626 crore and is growing at a 13% annual rate. Myoril has annual sales of Rs. 38 crore and a 6.8% growth." CORONA gains its first offering in the muscle relaxant category with the addition of the Myoril brand to its portfolio, adding to its existing portfolio of more than 80 brands.

Corona's therapeutic enrichment efforts and orthopaedic portfolio are strengthened by Myoril's scientific expertise and market presence in the muscle relaxant market. CORONA’s strong presence in the western and southern regions of India will facilitate increased market penetration and coverage for Myoril in the orthopaedics and physician space. CORONA Remedies will leverage its dedicated sales team and extensive distribution network to ensure that Myoril reaches consumers in even the most remote parts of the country. The acquisition follows a trend of Corona acquiring brands from multinational companies in recent years, which has significantly contributed to its revenue growth.