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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Ajay Piramal, however, reiterated that he was not exiting the business. For a period of eight years, Piramal will not engage in generic pharmaceuticals business in India and other emerging markets. Pirakal 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.
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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. Request information now On my watchlist. Advertising Branding Clinical research Conferences meetings events Creative and design Digital communications Homecare Pirama, associations IT solutions Management consultancies Manufacturing packaging logistics Market access Market research Marketing consultancies Media planning and buying Medical communications Medical education Patient support and adherence Pharmacy Print services Policy and government affairs Public relations Publishers Recruitment and career development Regulatory affairs Research and development Sales Training Translation services Consulting at McCann Health We are the strategic consultancy of McCann Health.
Danzon points to Dr.
We are the acquiaition consultancy of McCann Health. But the deal takes them to the number one slot, he adds. Abbott Gesellschaft mbH more. There are a limited number of Indian generics companies that are attractive, and there might be considerable competition for them. Abbott Laboratories Request information now. Globally, Abbott also faces the pressure of playing catch-up with its bigger rivals.
Your changes will in fact be stored however can be lost at all times. Piramal Healthcare also retains custom manufacturing, over-the-counter consumer products, diagnostic medical devices and services and clinical research, among other activities. Log in Keep me signed in. The assets to be transferred include the company’s manufacturing planst in Baddi, Himachal pradesh and rights to approximately brands and trademarks. Your browser is not current.
The deal, subject to Piramal Healthcare shareholder approval, is expected to close in the second half of Piramal’s Healthcare Solutions business will become part of Abbott’s newly created, stand-alone Established Products Division.
The business will continue to be led by its current India-based management team. For the year ended March 31,Piramal Healthcare posted a consolidated total operating income of Rs 3, crore, up by Log In or sign up to comment.
More companies by Abbott. Piramal, however, expressed confidence that existing businesses such as patented products will make gains in the domestic market in two-three years. My watch list My saved searches My saved topics My newsletter Register free of charge. L as possible buyers. According to Wharton faculty and industry experts, changing global business models and the resources needed to develop blockbuster drugs are propelling Indian companies to join forces with multinationals through strategic alliances or as targets for acquisitions.
Abbott buys Piramal’s Healthcare Solutions – PMLiVE
Trending New models of care China Special: 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. Analysts say the Indian firm will take time to incubate new businesses and even longer for returns to accrue.
The combination of popular brands, strong distribution channel, and US FDA-approved manufacturing plants will give an upperhand to Abbott through the deal.
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Abbott, which is celebrating its th year in India, has more than 2, employees across all of its businesses there. Share on Facebook Share on Twitter. Abbott will add branded generic drugs from the Piramal portfolio, including Phensedyl, one of the top wbbott pharma brands in the country. We combine fresh and creative thinking with scientific and strategic depth I have forgotten my password.
Abbott buys Piramal unit, tops table
Indian companies can hope to become truly global pharmaceutical companies only through drug discovery, says Piramal. All the same, the West continues to dominate pharmaceutical innovation, and companies in India and other emerging markets could play a bealthcare role, according to Danzon.
The DJSI designation recognizes companies for responsible and Reliance to buy majority stake in renewable energy services firm Kanoda. Piramal’s Healthcare Solutions business employs over 5, people in India. Danzon adds that the emerging business plan for generics companies is essentially around selling to pharmacists, not physicians. Food and Drug Administration charged the Indian company with numerous violations on quality and safety fronts, and banned some of its drugs.
To use all functions of this page, please activate cookies in your browser. In fact, 10 days before the Piramal acquisition, Abbott announced a licensing and supply deal with Indian pharmaceutical company Zydus Cadila.