Corona Remedies has successfully transformed into one of India's fastest-growing branded formulations companies through its strategic acquisition of underperforming brands. When the Ahmedabad-based drugmaker acquired Wokadine from Dr. Reddy's Laboratories for ₹95 crore in March 2026, the povidone-iodine brand was struggling in Dr. Reddy's portfolio. However, Corona saw potential in the ₹600–650 crore povidone-iodine market and began reworking Wokadine's trajectory by re-engaging doctors, tightening prescriptions in institutional channels, and leveraging its field force to rebuild visibility.
The company's approach demonstrates a consistent pattern of reviving and scaling acquired brands. According to reports from Moneycontrol, Corona's ₹234 crore acquisition of Myoril from Sanofi in FY24 serves as a prime example. The muscle relaxant brand, which had stagnant annual sales of around ₹38 crore, was repositioned within a focused pain management franchise and became a ₹100 crore per annum brand under Corona's management through sharper doctor targeting and consistent field force push.
Over the past few years, Corona has systematically built its portfolio through strategic acquisitions. In July 2025, the company acquired seven brands from Bayer India, including anti-platelet therapy Noklot and women's health products such as Fostine, Ovidac and Vageston. Previous acquisitions include Vitneurin and other brands from GSK to enter nutraceuticals and respiratory segments, and Obimet and Thyrocab from Abbott India to deepen chronic therapies. As reported by Moneycontrol, CEO and MD Nirav Mehta describes this strategy as identifying brands with "strong fundamentals but not enough commercial focus."
Corona's growth strategy has delivered strong financial results, with the company posting 17.3% growth in annual revenue to ₹1,403.2 crore and net profit of ₹199 crore with EBITDA margins of 21% expanding almost 80 basis points year-on-year. According to Moneycontrol, Corona's growth has been running at roughly 2–3x the Indian Pharmaceutical Market (IPM) growth of 8.8% in FY26, positioning it among the fastest-growing mid-sized branded formulation players in the market.
Looking ahead, Corona plans to continue its M&A-led growth strategy supported by deeper penetration of acquired brands. As reported by Moneycontrol, CEO Nirav Mehta has indicated that this approach allows for "faster scale-up with lower risk compared to starting from scratch." The company's execution-focused approach, which includes building focused teams, intensifying doctor engagement, and fixing distribution gaps, has proven successful in transforming underperforming brands into double-digit growth drivers in the competitive pharmaceutical market.
