This is Piramal’s seventh pharma acquisition in the last two years, taking its investment for inorganic growth to Rs 3,000 crores across its pharmaceutical businesses.
The portfolio acquired includes Gablofen (baclofen), a severe spasticity management product, which is currently marketed in the US, and two pain management products, which are currently under development. Gablofen, which has also been approved for launch in 8 European markets, 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.
“We continue to invest in the growth of our pharmaceutical businesses. This transaction is a step further in our strategy to make investments, in both internal developments and acquisitions, to expand our presence in the global generic hospital drug market, which is greater than $ 20 billion in size. Through this strategy, our focus continues to be the creation of long term value for shareholders,” commented Ajay Piramal, chairman, Piramal Enterprises Limited.
Peter DeYoung, CEO - Piramal Critical Care, added, “This is critical care’s second acquisition in the last four months, following our acquisition of a portfolio of anaesthesia and pain management injectable drugs from Janssen Pharmaceutica NV. This acquisition provides Piramal a leadership position within the intrathecal spasticity segment and the opportunity to access the intrathecal pain management market, which is complementary to our critical care focus, and leverage our current operations and capabilities, especially in the US. These acquisitions add branded products that are in attractive niches with barriers to entry and limited competition. Along with our inhalation anaesthesia products, we are building an exciting portfolio to offer our customers and a substantially more diversified revenue base.”
Piramal’s critical care business, the world's third largest producer of inhaled anaesthetics, is one of the leading global players in the hospital generics segment. The business has marketing presence in over 100 countries with manufacturing locations in the US and India. PCC’s product portfolio includes inhalation anaesthetics, injectable anaesthesia and pain management products as well as other critical care products including plasma volume expanders.
 "Closures for liquid drugs; Image courtesy: Datwyler")
