A developer and manufacturer of sterlite injectable products
Piramal Enterprises announced that it is in final stages of discussion with the University of Kentucky for the potential acquisition of Coldstream Laboratories Inc. (Coldstream) for a total consideration of USD 30.65 million.Of this, USD 5.65 million would be towards the Coldstream facility on the Research Park Campus of the University, while the rest would be towards purchase of the company's shares. This potential transaction is subject to corporate approvals and is expected to be completed by the end of this week.
Coldstream is a Contract Development and Manufacturing Organisation (CDMO) focused on the development and manufacturing of sterile injectable products and is majorly owned by University of Kentucky Research Foundation (an affiliate of the University of Kentucky). The company operates from a FDA approved facility located in Lexington, Kentucky, USA. This acquisition allows Piramal Enterprises to move further into the injectable market segment and has strong synergy with its existing Pharma Solutions business.
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