Pharma Tips

Abbott Acquires Piramal's Domestic Drug Biz

By: Pharma News | Views: 1489 | Date: 18-Oct-2013

"Abbott announced a definitive agreement with Piramal Healthcare limited to acquire full ownership of Piramal's Healthcare solutions for an upfront payment of $2.12 billion, plus $400 million annually for the next four years", said Abbott in a statement.

Abbott Acquires Piramal's Domestic Drug Biz

US based Abbott said it would be obtaining India's Piramal Healthcare's domestic formulation business for $3.72 billion.

Abbott Acquires Piramal's Domestic Drug Biz

"Abbott announced a definitive agreement with Piramal Healthcare limited to acquire full ownership of Piramal's Healthcare solutions for an upfront payment of $2.12 billion, plus $400 million annually for the next four years", said Abbott in a statement.

He added that the acquisition would boost its growth in emerging markets by providing it the No. 1 position in the Indian pharmaceutical market.

It was told by Abbott Chairman and Chief Executive Officer Miles D White that the strategic action would advance Abbott into the leading market position in India.

It was seen that Mumbai-based Piramal's domestic formulation business incorporated manufacturing, marketing and selling of branded generic pharmaceutical products in India, Nepal and Sri Lanka.

Today it announced by US-pharma Abbott that it would be acquiring Piramal Healthcare for USD 3.72 bn so that it could become the largest drug manufacturer in India.

It was told by Abbott that it would be paying USD 2.12 billion upfront and the remaining amount would be paid in four annual installment of USD 400 million.

It was noticed that the promoters of Piramal would keep their R&D, overseas and active pharmaceutical ingredients' business.

Previous Page Next Page

People Searching On This Page:
  • piramal healthcare
  • Piramal pharma company

Related Pages


Lupin Acquires Russian Drug Firm Biocom

Lupin Acquires Russian Drug Firm Biocom

News | Pharma Companies
Date:
14-Jul-2015  Views: 2693

New Delhi: Drug major Lupin on Thursday announced the acquisition of Russia's Biocom, marking its foray into the market which is expected to be one of ...
Drug Inspector Jobs Under Food & Drug Administration

Drug Inspector Jobs Under Food & Drug Administration

Jobs | Drug Inspector
Date:
22-Apr-2015  Views: 12535

MPSC invites applications by online method for post of Drug Inspector under Food & Drug Administration, Medical Education and Research Services. For t ...
Career as Drug Inspector at Food & Drug Administration

Career as Drug Inspector at Food & Drug Administration

Jobs | Drug Inspector
Date:
16-Feb-2015  Views: 10015

Online applications are invited from candidates by Food & Drug Administration department Chhattisgarh for given vacancies. ...
Drugs Inspector Job Vacancy  in Drugs Control Department of KPSC

Drugs Inspector Job Vacancy in Drugs Control Department of KPSC

Jobs | Drug Inspector
Date:
05-Jul-2012  Views: 23204

Vacancy for Drugs Inspector in Drugs Control department of KPSC - Freshers may apply ...
Drug Inspector in A.P. Drugs Control Job Vacancy

Drug Inspector in A.P. Drugs Control Job Vacancy

Jobs | Drug Inspector
Date:
18-Feb-2012  Views: 20545

Recruitment applications are invited On-line through the proforma Application to be made available on WEBSITE (apspsc.gov.in) in from 22/02/2012 to 22 ...
Post Your Comments (No Login Require)
Name : (required)
Email : (required)
Website :

Comment : (required)

70  + 1 =     
Comments
People Searched About:
Piramal Healthcare   |   Piramal Pharma Company   |  
Google : 228 times | Yahoo : 20 times | Bing : 9 times |