Abbott Acquires Piramal's Healthcare Solutions Business

June 10, 2010

Abbott (Abbott Park, IL) will acquire full ownership of Piramal Healthcare Limited?s Healthcare Solutions business (Mumbai, India), a provider of Indian-branded generics, for an up front payment of $2.12 billion, plus $400 million annually for the next four years.

Abbott (Abbott Park, IL) will acquire full ownership of Piramal Healthcare Limited's Healthcare Solutions business (Mumbai, India), a provider of Indian-branded generics, for an up front payment of $2.12 billion, plus $400 million annually for the next four years. This acquisition accelerates Abbott's emerging markets growth following the recent acquisition of Solvay Pharmaceuticals and announcements last week of Abbott's collaboration with Zydus Cadila, as well as the creation of a new stand-alone Established Products Division to focus on expanding the global markets for its branded generics portfolio.

The Piramal Healthcare Solutions business has a comprehensive portfolio of branded generics with annual sales expected to exceed $500 million next year in India, and brands in multiple therapeutic areas, including antibiotics, respiratory, cardiovascular, pain, and neuroscience.