Piramal Group buys UK-based Mallinckrodt's pharma products for $171 mn

The acquired portfolio of drugs belongs to spasticity and pain management categories

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BS B2B Bureau Mumbai

Last Updated : Jan 30 2017 | 2:54 PM IST

Piramal Enterprises Limited (PEL), through its wholly-owned critical care subsidiary in the UK, has entered into an agreement to acquire a portfolio of intrathecal spasticity and pain management drugs from Mallinckrodt LLC in an all cash deal for a consideration of $ 171 million (about Rs 1160 crore) and up to an additional $ 32 million (about Rs 217 crore) payable depending on financial performance of the acquired assets over the next 3 years.

This is Piramal’s seventh pharma acquisition in the last two years, taking its investment for inorganic growth to Rs 3,000 crores across its pharmaceutical businesses.

The portfolio acquired

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