Chandigarh-based Rs 1,144-crore Surya Pharmaceuticals has acquired US-based over-the-counter (OTC) analgesic drug brand ActivOn including its global marketing rights by paying $22 million.

Surya Pharmaceuticals, having net revenue of Rs 1,144 crore in financial year 2009-10, has already got assurance from Exim Bank that will finance the acquisition, according to firm's filing before the Bombay Stock Exchange (BSE).

Hariom Bhatia, the Chief Executive Office of Surya Pharma expressed pleasure over the takeover adding that it will further give the firm opportunity to launch some of its own over-the-counter (OTC) and FMCG products in future.

He added, "The main benefits of this acquisition are the existing brands, existing business and established profitability. However, at the same time through this acquisition, we get access to the leading retailers in US like Wal-Mart, Walgreen, CVS and RiteAid etc."

He said that firm will do its best to make ActivOn brand worth $18 to 20 million within next two years. The firm also aims to introduce these brands to the Indian market in addition to taking them in other countries.