Piramal Pharma Acquires Kenalog® Brand from BMS for up to $100M
Piramal Pharma Limited's subsidiary will acquire the Kenalog® brand from BMS for an upfront payment of US$ 35 million and contingent consideration up to US$ 65 million. This acquisition aims to expand PPL's product portfolio and global distribution network.
The acquisition involves a significant consideration and is expected to contribute to future growth, impacting the company's business operations and market presence.
The acquisition of a branded product is a positive development for Piramal Pharma Limited, expected to enhance its product portfolio and global reach.
Piramal Pharma Limited (PPL) announced that its step-down wholly owned subsidiary, Piramal Critical Care B.V., has entered into definitive agreements to acquire the Kenalog® brand and its associated brands from Bristol-Myers Squibb Company (BMS). The acquisition involves an upfront consideration of US$ 35 million (approximately ₹291 crore) and a contingent consideration of up to US$ 65 million (approximately ₹541 crore), payable upon achievement of agreed operational and financial milestones.
Kenalog®, a branded commercial injectable product containing Triamcinolone Acetonide, is a synthetic corticosteroid used for anti-inflammatory, antipruritic, and antiallergic actions. It is indicated for adjunctive therapy in acute gouty arthritis, rheumatoid arthritis, and other inflammatory conditions. BMS currently markets the product under various trademarks, including Kenalog®, Kenacort®, Trigon®, and Adcortyl®, across 15 countries.
The acquisition is expected to enhance PPL's distribution network, which spans over 6,000 hospitals in more than 100 countries. It aims to broaden the company's CHG product portfolio and drive future growth, particularly in the US, Europe, and Asia Pacific markets. The transaction is subject to the fulfillment of certain closing conditions and is not considered a related party transaction.
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Piramal Pharma Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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