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.
As reported in Medical News Today (Sept 11th) this deal has officially closed
http://www.medicalnewstoday.com/articles/200515.php
Posted by: bigredbruce | 09/11/2010 at 12:53 PM
Thanks for correction Ram with regard to Ranbaxy. Given their current manufacturing problems throughout their network - maybe Daiichi is closer to considering such a move! Or at least wondering why they bought the asset in the 1st place
http://bit.ly/dfFQRa
Posted by: bigredbruce | 06/19/2010 at 03:03 PM
Brad, Ranbaxy has already been purchased by Daiichi. So, unless the Japs sell out, there's no buying of Ranbaxy.
Posted by: Ram | 06/16/2010 at 12:02 AM
WSJ report on Abbott and Piramal. Says Abbott paid steep price that indicates other buyers were in competition. GSK and Sanofi both mentioned as possibles in battle for pharmerging market share.
http://bit.ly/9WjXZV
Posted by: bigredbruce | 05/23/2010 at 09:02 PM