Piramal Enterprises' Critical Care subsidiary to acquire five injectable products from Janssen Pharmaceutica NV

For upfront consideration of USD 155 million

Piramal Enterprises announced that its wholly owned Critical Care subsidiary in the UK has entered into an agreement to acquire five anesthesia and pain management injectable products from Janssen Pharmaceutica NV, in an all cash deal for an upfront consideration of US$155 million, and up to an additional US$20 million.

The products to be acquired are five injectable versions of well-established Janssen brands, Sublimaze (fentanyl citrate), Sufenta (sufentanil citrate), Rapifen (alfentanil hydrochloride), Dipidolor (piritramide), and Hypnomidate (etomidate) (the Products).

Piramal has agreed to acquire the brand names and all related IP as associated with the Products, including the know-how to make both the active pharmaceutical ingredients (API) and the finished dosage forms of the Products. The Products are currently marketed in over 50 countries. The potential acquisition does not include the transfer of any manufacturing facilities or employees.

As part of the transaction, Janssen will continue to supply finished dosage forms for up to three years and API for up to five years. Janssen will continue to sell the products on behalf of Piramal until the marketing authorizations or relevant business relations are transferred to Piramal. Janssen can earn up to an additional US$20 million if the Product portfolio achieves certain agreed financial milestones over the next 30 months. The transaction is expected to close this week.

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