Piramal Enterprises gains with arm acquiring drugs portfolio from Mallinckrodt

Piramal Enterprises Ltd. - (Amalgamated) | Finance - NBFC | BFSI | BSE: 500302 | NSE: PEL

31 Jan 2017 Evaluate

Piramal Enterprises is currently trading at Rs. 1743.00, up by 19.75 points or 1.15% from its previous closing of Rs. 1723.25 on the BSE.

The scrip opened at Rs. 1731.05 and has touched a high and low of Rs. 1747.75 and Rs. 1725.10 respectively.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2095.00 on 22-Aug-2016 and a 52 week low of Rs. 835.05 on 03-Mar-2016.

Last one week high and low of the scrip stood at Rs. 1759.00 and Rs. 1700.00 respectively. The current market cap of the company is Rs. 30,073.00 crore.

The promoters holding in the company stood at 51.44%, while Institutions and Non-Institutions held 30.95% and 17.61% respectively.

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.

Piramal Ent - Amalga Share Price

1124.60 0.00 (0.00%)

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Peers

Company Name	CMP
Bajaj Finance	980.65
Shriram Finance	1004.00
Aditya Birla Capital	369.25
Chola Invest & Fin.	1710.95
Tata Capital	328.45
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