Abbott to buy Piramal Healthcare unit for over $2 billion

Abbott India has acquired Piramal's Healthcare Solutions (Domestic Formulations) for an up-front payment of $ 2,120,000,000 and an additional 400 million U.S. dollars annually over the next four years.

Abbott said the meeting will bring together trade growth in the up-and-coming markets, "it gives No. 1 position in the Indian pharmaceutical market."The Piramal's portfolio of branded generic pharmaceuticals is expected to log sales of over $ 500 million, with brands that range across several therapeutic drugs and formulations, including antibiotics, respiratory diseases, heart, pain and Neurosciences.
"This strategic approach will promote Abbott in the leading market position in India, one of the most attractive and rapidly growing markets," said Miles D. White, chairman and CEO of Abbott.

"With this agreement, the combined Healthcare Solutions and Abbott companies
the clear market leader in India with a market share of about 7 percent, "said Ajay Piramal Chairman, Piramal Group. "This was our common vision, and I'm glad that those who are a part of Piramal's Healthcare Solutions will realize this dream. "

In an exclusive interview with CNBC-TV18, INVBINO Pathiparampil, Vice President of IIFL Capital; Sarabjit Kour Nangra of Angel broking, Ravi Agarwal, Pharma Analyst at Edelweiss and Ranjit Kapadia of HDFC Securities, gave his interpretation of the contract and the way forward for the pharmaceutical companies. vækst in its up-and-coming markets, "the donor No. 1 position of the Indian Pharmaceutical Market."