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Seven years after Piramal deal, Abbott way off revenue target

It acquired the formulations business from Piramals in 2010 in a $3.7-bn deal

Aneesh Phadnis & Ram Prasad Sahu  |  Mumbai 

When US-based global health care major Abbott acquired the formulations business of Piramal Healthcare in a $3.7-billion deal in 2010, it had projected a revenue target of $2.5 billion within 10 years. As things stand today, this target seems an uphill task for the company to achieve.  The acquisition, a part of the multinational drugmaker’s strategy to expand its emerging market presence, propelled the pharma giant to No. 1 position in the domestic market. But recent government actions, including capping prices for drugs and stents, and curbs on sale of fixed-dose drug ...

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