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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Abbott Products GmbH more. It is not so much a concern about the downside, but about how we maximize the opportunity.
Sign up for the weekly Knowledge Wharton e-mail newsletter, abbotf business leaders cutting-edge research and ideas from Wharton faculty and other experts. This is the 2nd-largest deal ever in the Indian pharma industry, just behind Daiichi Sankyo’s takeover of Ranbaxy in Abbott, which is celebrating its th year in India, has more than 2, employees across all of its businesses there.
The collaboration includes medicines for pain, cancer and cardiovascular, neurological and respiratory diseases, with product launches beginning in Obviously, whoever wants to strengthen Indian presence through buyouts, will have to shell out much more due to the higher demand for Indian assets. Piramal justified the sale by saying that future value from the branded generics business would come from business growth outside India. For consumers, the great value in generics is getting it cheaper.
Abbott has been operating in India for of its years, and has popular pharmaceutical brands including the antacid Digene and painkiller Brufen.
Ajay Piramal, however, reiterated that he was not exiting the business. My watch list My saved searches My saved topics My newsletter Register free of charge. To use all the functions on Chemie. Let’s work together to keep the conversation civil.
According to Abbott, this deal further accelerates Abbott’s emerging markets growth following the recent acquisition of Solvay Pharmaceuticals and announcements last week of Abbott’s collaboration with Zydus Cadila as well as the creation of a new stand-alone Established Products Division to focus on expanding the global markets for its leading branded generics portfolio.
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Your changes will in fact be stored however can be lost at all times. Abbott is one of the 60 companies recognized acquisitikn leading their respective global industries.
Abbott buys Piramal’s pharma arm for $bn – Times of India
Warmuth, senior vice-president at the acqulsition products division of Abbott, told Mint on Friday. On Friday, Piramal Healthcare stocks went up to Rs According to Abbott statement, branded generics abobtt significant brand equity in many international markets, providing durable, sustainable franchises for future growth. It is increasingly a preferred choice for infrastructure and real estate developers as well.
Abbott buys Piramal unit, tops table – Livemint
On top of that, India is a growing market. Abbott said it was advised by Morgan Stanley, while Piramal said it did not have a financial advisor on the deal. With an accout for my. It is paying roughly 8.
Sat, May 22 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. The 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, maximizing the opportunity in emerging markets.
Analysts say the Indian firm will take time to incubate new businesses and even longer for returns to healtjcare.
Globalization is not just for manufacturers. Trending New models of care China Special: In the past few years, they have realized that those pipelines are running dry, and are trying to diversify. Log In or sign up to comment. BOis booming as governments battle rising healthcare costs. Login from existing account Facebook Google Email. Related Videos ET Now: PMHub Add my company Any category Piramal started the pharma business in and has expanded it through organic and inorganic growth.
A ‘Bigger Foothold’: What Does the Abbott-Piramal Deal Mean for Indian Pharma?
healthxare You have to create a whole organization, and that takes time. We are the strategic consultancy of McCann Health. Unnikrishnan and Satish John. Country Garden, one of the largest and most successful vertically integrated real estate[…]. Over ov past ten years, Abbott has established a leading presence in emerging markets and now more than 20 per cent of the company’s total sales are generated in these growing economies. The business will continue to be led by its current India-based management team.
The Indian drug maker, which itself has made 15 acquisitions sinceinsists it will remain in the industry and invest in the remaining business. More companies by Abbott.