Piramal Enterprises shines on acquisition of Janssen's injectable anesthesia

Piramal Enterprises, 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. The company has acquired through cash deal for an upfront consideration of USD 155 million (Rs 1032 crore), and up to an additional USD 20 million (Rs 133 crore).

Piramal Enterprises will acquire five injectable versions of well-established Janssen brands, Sublimaze (fentanyl citrate), Sufenta (sufentanil citrate), Rapifen (alfentanil hydrochloride), Dipidolor (piritramide), and Hypnomidate (etomidate). The company 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.

Meanwhile, Janssen will continue to supply finished dosage forms for up to three years and API for up to five years. The company will continue to sell the products on behalf of Piramal until the marketing authorisations are received.

According to Piramal Enterprises' management, it has achieved six healthcare acquisitions in the last two years, inorganically investing Rs 1800 crore across their Healthcare businesses. The acquisition is critical in shaping company’s product offerings, providing access to global markets and leveraging their existing capabilities.

The share price of Piramal Enterprises increased by 1.36 per cent on bourses in early trades; and is trading at Rs 1879.85 on an intraday basis.