The healthcare and financial services conglomerate, owned by Indian billionaire Ajay Piramal, is studying various brands, but is not close to finalising any deals yet, Kedar Rajadnye, president of Piramal's consumer products division, told Reuters.
The company said on Wednesday that it agreed to buy five gastro-intestinal products from US firm Merck and privately held Organon India Pvt Ltd for about Rs 92 crore ($13.9 million).
Piramal's consumer health business, known for the iPill contraceptive pills and Saridon pain relief tablets, contributes about 10 per cent to its total sales.
Rising consumer awareness in India and increasingly hectic lifestyles are pushing many to self-medicate and buy over-the-counter products, driving demand in the consumer health market, market research firm Euromonitor International said in a report last month.
($1 = Rs 66.2050)
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.