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Betadine-maker Mundipharma's new alliance with Manchester City is a perfect fit for the pharma firm's emerging markets (EM) strategy, the company told CNBC on Thursday.
The football team is now Mundipharma's official healthcare product partner in global emerging markets, according to the terms of the deal announced Friday. Betadine, the company's famous antiseptic brand, will be emblazoned on Man City's jerseys and the team's imagery will be used for the promotion of the brown-orange liquid.
The Premier League club, owned by Abu Dhabi ruler Sheikh Mansour Bin Zayed Al Nahyan, is estimated to have 400 million global fans, half of whom are based in Asia, according to Tom Glick, chief commercial officer of City Football Group, the holding company behind Man City.
With that kind of following, it was a no-brainer for the pharma company to be associated with the club, Raman Singh, president of EM at Mundipharma Asia-Pacific, told CNBC's "The Rundown."
Tying up with engaging partners was an integral element of the company's three-pronged business plan in EMs, Singh explained. In October last year, tennis star Caroline Wozniacki became brand ambassador for Betadine.
Affordability was also key to sales developing economies, Singh noted.
Measures such as cutting costs on packaging and presentation of products—for example, using packets instead of bottles—helped reduce costs, making products more appealing for EM consumers, he said