Ahmedabad-based Corona Remedies Private Limited, on Wednesday, announced the acquisition of muscle relaxant brand Myoril from the global pharmaceutical giant Sanofi. The acquisition is valued at ₹234 crore (including taxes), according to an official statement.

The acquisition marks Corona’s largest acquisition to date and positions Corona as a key player in the muscle relaxant segment. The acquisition for the Indian market is effective from June 28, 2023, the statement added.

Myoril is a well-established brand known for its efficacy and enjoys a high level of trust among orthopaedics in the country and holds significant potential for growth.

Myoril brand acquisition gives Corona Remedies’ portfolio a significant boost as the first offering in the muscle relaxant category. The company has an existing lineup of more than 80 brands.

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The muscle relaxant market in India is valued at ₹1,626 crore and it is growing at 13%.

Myoril has annual sales of ₹38 crore and a growth of 6.8%, according to IQVIA May 2023 data. By leveraging this market opportunity, Corona is poised to capitalise on the potential of the muscle relaxant segment.

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.

Founded in 2004, Corona enjoys leadership positions in women’s health, infertility, and cardiometabolic and orthopaedics.

Corona has WHO-GMP/EU GMP-approved facility and two DSIR-approved R&D centres with 50+ scientist teams working on novel platform technologies & hormones.

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