Piramal Enterprises’ wholly owned Critical Care subsidiary in the UK has entered into an agreement to acquire a portfolio of intrathecal spasticity and pain management drugs from Mallinckrodt LLC (Mallinckrodt) in an all cash deal for a consideration of $171 million and up to an additional $32 million payable depending on financial performance of the acquired assets over the next 3 years. The completion of the transaction is subject to HSR review in the US and certain other conditions.
The portfolio acquired includes Gablofen (baclofen), a severe spasticity management product, which is currently marketed in the United States, and two pain management products, which are currently under development. Gablofen has also been approved for launch in 8 European markets.
Gablofen is the only intrathecal baclofen drug available in vials and pre-filled syringes, which are preferred by users over the competing products available in ampoules. The pain management drugs under development are also for intrathecal administration. In the twelve months ending September 30, 2016, the acquired portfolio generated revenues of $44.6 million.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.
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| Shriram Finance | 1015.40 |
| Aditya Birla Capital | 368.90 |
| Chola Invest & Fin. | 1687.70 |
| Tata Capital | 325.55 |
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