NYSE-listed pharma major Abbott Labs has inked a deal with Piramal Healthcare to acquire Piramal’s Healthcare Solutions business. Abbott to Become No. 1 Pharmaceutical Company in India with Acquisition of Piramal’s Healthcare Solutions Business. May 21, am. N) will pay $ billion to acquire the branded generics business of Piramal’s healthcare solutions accounted for about 55 percent of its.
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PPS is a leader in Integrated Contract Development and Manufacturing, with a global network of 12 development and manufacturing facilities across Nor BOis booming as governments battle rising healthcare costs. It will continue its drug discovery and research through Piramal Life Sciences Ltd. As Abbott wanted to make a significant presence in India, they feel it is reasonable.
Combined with existing product offerings, Abbott is uniquely positioned to meet the needs of one of the world’s fastest-growing pharmaceutical markets.
Abbott buys Piramal’s Healthcare Solutions
However, companies like Abbott and others getting into new generic drug markets must be watchful of the changing lay of the land there as well, according to Danzon. Analysts say the Indian pirmal will take time to incubate new businesses and even longer for returns to accrue.
The Abbott deal is the fourth biggest acquisition of an Indian drug business by a foreign drug maker in the last three years. Acquisjtion combined Abbott and Piramal sales force will be the largest in India, Warmuth said, adding that the price that it paid for the Indian business was just right. Globalization is not just for manufacturers.
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Abbott To Acquire Piramal Healthcare Unit For $B | VCCircle
Piramal Healthcare also retains custom manufacturing, over-the-counter consumer products, diagnostic medical devices and services and clinical research, among other activities. White, chairman and chief executive officer, Abbott.
Abbott Piramal Healthcare pain neuroscience generics antibiotics. It is increasingly a preferred choice for infrastructure and real estate developers as well. India’s rapid pharmaceutical market growth is being driven largely by branded generics.
On Friday, Piramal Healthcare stocks went up to Rs Shares in Mumbai-based Piramal closed For the year ended March 31,Piramal Healthcare posted a consolidated total operating income of Rs 3, crore, up by Fortis again pushes back date to complete RHT Health deal; auditor resigns. Chaudhuri acknowledges those new realities, but with a patriotic tinge. All the same, the West continues to dominate pharmaceutical acquisitioh, and companies in India and other emerging markets could play a supportive role, according to Danzon.
Piramal’s Healthcare Solutions business has a comprehensive portfolio of branded generics, including market-leading brands in multiple therapeutic areas, including antibiotics, acquissition, cardiovascular, pain and neuroscience.
Abbott buys Piramal unit, tops table
Industry forecaster IMS Health predicts leading emerging markets will show annual pharmaceuticals sales growth of 14 to 17 percent throughagainst just 3 to 6 percent a year for developed markets. Abbott announced it intends to close the acquisition of St.
Also, Piramal’s barnds have presence across the emerging markets. Ajay Piramal, however, reiterated that he was not exiting the business. But the deal takes them to the number one slot, he adds. Announcing the deal on Friday, Ajay Piramal, chairman of Piramal Healthcare, reiterated his commitment to stay invested in the pharmaceuticals business, albeit in the OTC over-the-counter segment, drug discovery, critical care and diagnostics space.
The Abbott-Piramal deal is the latest in a wave of consolidation within the global pharmaceutical industry over the past few years.