Piramal Acquires U.S. Firm

Indian pharmaceutical company Piramal Healthcare (Mumbai), formerly known as Nicholas Piramal, says it has completed the acquisition of Minrad International (Orchard Park, NY) for about $40 million. The deal calls for shareholders of Minrad, a producer of generics inhalation anesthetics, to receive $0.12/share. Minrad will operate as a Piramal wholly owned subsidiary. Piramal has sales of about $580 million and a portfolio including nine therapeutic areas. The company is also a custom manufacturer, with assets in Asia, Europe, and North America. The acquisition...

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