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.
|Published (Last):||21 January 2012|
|PDF File Size:||19.49 Mb|
|ePub File Size:||4.47 Mb|
|Price:||Free* [*Free Regsitration Required]|
Abbott Completes Acquisition of Piramal’s Healthcare Solutions Business
All the cash from the deal will go into Piramal Healthcare and will be invested in existing business segments such as consumer healthcare or the OTC unit, the critical care segment and drug research, chairman Piramal said.
Wharton professor of healthcare management Patricia Danzon agrees. Danzon adds that the emerging business plan for generics companies is essentially around selling to pharmacists, not physicians.
My watch list My saved acqisition My saved topics My newsletter Register free of charge. Infibeam calls off pact to acquire Snapdeal unit Unicommerce.
Piramal’s Healthcare Solutions business employs over 5, people in India. These other players are not even interested in doing that.
Abbott To Acquire Piramal Healthcare Unit For $B | VCCircle
The healrhcare will continue to be led by its current India-based management team. Sumeet ChatterjeeBharghavi Nagaraju. As Abbott wanted to make a significant presence in India, they feel it is reasonable. More news by Piramal Healthcare.
Abbott to pay $3.7 billion for unit of India’s Piramal
Combined with existing product offerings, Abbott is uniquely positioned to meet the needs of one of the world’s fastest-growing pharmaceutical markets,” he ppiramal. The Healthcare Solutions business will operate as a separate business unit, reporting into Abbott’s newly-created Established Products Division EPDwhich was formed to focus on branded generics, maximising the opportunity in emerging markets. The hunter has become the hunted.
BOas global drugmakers look to boost their presence in emerging markets. Read Post a comment. In fact, 10 days before the Piramal acquisition, Abbott afquisition a licensing and supply deal with Indian pharmaceutical company Zydus Cadila. Now, Piramal on its own has that opportunity.
Your browser is not current. Abbott Laboratories Poland Sp. 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.
Facts, background information, dossiers. Abbott, which will fund the transaction with cash on the balance sheet, says, the deal will be conducted through its wholly-owned subsidiary. The transaction establishes Abbott as a leader in the medical device arena and provides expanded opportunities for future growt Commenting on the acquisition, Miles D White, chairman and chief executive officer of Abbott stated that it further strengthened Abbott’s growing presence in emerging markets.
Piramal’s Healthcare Solutions business has a comprehensive portfolio of branded generics, including market-leading brands in multiple therapeutic areas, including antibiotics, respiratory, cardiovascular, pain and neuroscience. Its Pharma Solutions Custom Manufacturing business recorded sales of Rs crore for the last year as compared soljtions Rs crore during FY as result of closure of its manufacturing facility at Huddersfield, UK. You have to create a whole organization, and that takes time.
Abbott To Acquire Piramal Healthcare Unit For $3.72B
For the year ended March 31,Piramal Healthcare posted a consolidated total operating income of Rs 3, crore, up by Abbott Gesellschaft mbH more. White, chairman and chief executive officer, Abbott. It will, however, continue research in drug discovery through an affiliate company.