Kalbe buys Woods brand

JAKARTA (JP): PT Kalbe Farma, a publicly listed pharmaceutical company, has spent US$14.4 million to buy Woods brand-name and business from W.E. Woods Pty Ltd and Woods Pharmaceutical Australia Pty Ltd, Kalbe said yesterday.

Woods, an established brand for cough syrup and peppermint cures, was started by William Edward Woods in 1895. The brand is available in seven nations and has trademarks registered in more than 20 countries.

The purchase, completed in Sydney last Wednesday, includes the brand, worldwide business, related intellectual property rights (including formula, technology, design and product concept) and inventory, Kalbe said.

"This acquisition is just one of the steps in our strategy to anticipate market globalization. The existing markets for Woods, together with its distribution network, will assist Kalbe to distribute its other products."

Woods's sales last year were $4.38 million. The figure was expected to climb to $15 million within five years, Kalbe said. (icn)