Abbott has acquired for $3.7 B ($2.2 B upfront) the long-pursued Nicholas Piramal in India. This gets Abbott into the exepcted to be very lucrative India market and also gives them a greater leg up in generics. They can also now lay claim to be the biggest pharmaceutical company in India (at least until the next purchase). Both GSK and Sanofi have been rumored in the past to be pursuing Piramal.
Now I suppose other MNCs may shift their attention to Ranbaxy or Dr. Reddy's Labs. We'll just stay on the look out and see.
Posted by Bruce Lehr May 23rd 2010.