Piramal Enterprises has agreed to acquire five injectable anesthesia and pain management products of Janssen Pharmaceutica for about $175 million or Rs 1,164 crore.
Mumbai-headquartered Piramal Enterprises will pay $155 million ( Rs 1,031crore) upfront in cash and the rest on meeting certain sales-related milestones, the company said in a statement issued on Monday. The transaction, which is expected to close this week, marks the Ajay Piramal-led company’s sixth deal in the healthcare space in the past two years. It is seen bolstering its portfolio of critical care drugs. Belgium-headquartered Janssen’s drugs sold to Piramal are marketed in over 50 countries. Piramal Enterprises has agreed to acquire the brand names and all related IPs associated with the products, including the know-how to make both the active pharmaceutical ingredients and finished dosage forms.