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Abbott to Acquire Piramal’s Indian Branded Generics Business for $3.72 Billion

4:25 AM MDT | May 21, 2010 | Deepti Ramesh

Abbott Laboratories (Abbott Park, IL) says it has signed a definitive agreement with Piramal Healthcare (Mumbai) to acquire full ownership of Piramal's healthcare solutions business (domestic formulations business), for an up-front payment of $2.12 billion, plus $400 million/year for the next four years. Piramal’s healthcare solutions business is the leader in the Indian branded generics market, and the acquisition will give Abbott the top position in the Indian pharmaceutical market, Abbott says. The transaction is expected to close in the second half of...

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