Mankind Pharma Shares Rise on OTC Business Transfer to Subsidiary

Acquisition Expands Company's Reach, Strengthens Distribution Network

New Delhi, India - Shares of Mankind Pharma surged on Monday after the company announced the transfer of its over-the-counter (OTC) business to a wholly-owned subsidiary, Mankind Pharma OTC.

Key Highlights:

• The transfer involves a portfolio of well-known OTC brands such as Manforce, Prega News, and Gas-O-Fast.
• The new subsidiary will focus on expanding the reach of these brands through a wider distribution network.
• Analysts believe the move will strengthen Mankind Pharma's overall position in the Indian pharmaceuticals market.

The transfer is expected to streamline operations and enhance the efficiency of the OTC business unit.

According to market experts, the stock rise reflects investor confidence in Mankind Pharma's growth strategy and the potential of the OTC segment.

The OTC market in India is estimated to be worth around $19 billion, and it is growing rapidly due to factors such as rising disposable incomes and increased awareness about health and wellness.

Mankind Pharma's move to establish a dedicated OTC subsidiary is seen as a strategic step to capitalize on this growth opportunity.