CCI approves Piramal Enterprises- Pfizer deal

Fair trade regulator Competition Commission of India (CCI) has approved Ajay Piramal-led Piramal Enterprises’ proposed acquisition of four brands from pharmaceutical major Pfizer.

As per the deal announced in May, Piramal Enterprises had entered into a deal with Pfizer to acquire Ferradol, Neko, Sloan’s and Waterbury’s Compound brands for Rs 110 crore. The deal also included trademark rights for Ferradol and Waterbury’s Compound in Bangladesh and Sri Lanka.

Piramal Enterprises is engaged in the business of pharmaceuticals, including research and development, financial services and information management through its subsidiaries.