Companies

Piramal Enterprises inks pact to buy anaesthesia, pain management products

Rajesh Kurup Mumbai | Updated on January 16, 2018 Published on October 10, 2016

Ajay Piramal, Chairman, Piramal Enterprises (file pic)

Piramal Enterprises has entered into an agreement to acquire five anaesthesia and pain management injectable products from Janssen Pharmaceutica NV in an all-cash deal for an upfront consideration of $155 million and up to an additional $20 million.

The Indian firm has signed the agreement through its wholly-owned subsidiary in the UK Critical Care.

Ajay Piramal, Chairman, Piramal Enterprises said, “This would be our sixth healthcare acquisition in the last two years, inorganically investing Rs 1,800 crore across our healthcare businesses. This acquisition is critical in shaping our product offerings, providing access to global markets and leveraging our existing capabilities. This acquisition is an important step in enabling Piramal Critical Care to address the global generic injectable hospital drug market, which is greater than $20 billion in size."

The products are five injectable versions of Janssen brands, Sublimaze (fentanyl citrate), Sufenta (sufentanil citrate), Rapifen (alfentanil hydrochloride), Dipidolor (piritramide), and Hypnomidate (etomidate).

Piramal has agreed to acquire the brand names and all related IP as associated with the products, including the knowhow to make both the active pharmaceutical ingredients and the finished dosage forms of the products.

The products are currently marketed in over 50 countries. The potential acquisition does not include the transfer of any manufacturing facilities or employees.

The transaction is expected to close this week.

Published on October 10, 2016
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