CORONA Remedies Expands with Wokadine Acquisition

CORONA Remedies Ltd has acquired the Wokadine brand from Dr Reddy's Laboratories Ltd, marking its entry into the Rs 648-crore Povidone Iodine market in India. The acquisition, funded through internal accruals, aims to strengthen CORONA's product portfolio and market presence in the healthcare sector.

On Monday, CORONA Remedies Ltd announced the acquisition of the Wokadine brand in India from Dr Reddy's Laboratories Ltd for an undisclosed amount. Ranked as the second largest in the Indian 'Povidone Iodine' market, Wokadine's addition reflects CORONA's dedication to advance holistic recovery and health.

This strategic move introduces CORONA Remedies to the Rs 648-crore Povidone Iodine market. Wokadine's applications range from treating infections and wounds to serving as an antiseptic and disinfectant. Vice President Tejas Kothari expressed confidence that the acquisition would amplify market penetration and accelerate brand growth.

The acquisition, fully funded by internal resources, consists of 14 SKUs targeting specialty treatment areas, thereby broadening product accessibility and offering growth potential under CORONA Remedies' guidance.

(With inputs from agencies.)