Piramal acquires portfolio of drugs from Mallinckrodt LLC

India Infoline News Service | Mumbai | March 20, 2017 09:31 IST

Mumbai based, Piramal Enterprises Limited’s UK subsidiary, Critical Care has acquired portfolio of drugs for spasticity and pain management from Mallinckrodt LLC.

Piramal-Enterprises
Mumbai based, Piramal Enterprises Limited’s UK subsidiary, Critical Care has acquired portfolio of drugs for spasticity and pain management from Mallinckrodt LLC.
 
The acquisition was for a cash consideration of USD 171 million and up to an additional USD 32 million, payable depending on financial performance of the acquired assets over the next three years.
 
The portfolio acquired includes Gablofen (baclofen), a severe spasticity management product, which is currently marketed in the United States, and two pain management products, which are
currently under development.
 
Piramal Enterprises Limited (PEL) is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services. PEL’s consolidated revenues were around US$1 billion in FY2016, with 61% of revenues generated from outside India.
 
Piramal’s Critical Care business is a leading global player in the hospital generics segment. PCC is the world's third largest producer of inhaled anesthetics. The business has marketing presence in over 100 countries with manufacturing locations in the US and India.
 
Stock View:
 
Piramal Enterprises Ltd is currently trading at Rs 1876, up by Rs 13.35 or 0.72% from its previous closing of Rs 1862.65 on the BSE.
 
The scrip opened at Rs 1863.6 and has touched a high and low of Rs 1877.6 and Rs 1863.6 respectively. So far 3704(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 32140.03 crore.
 
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 2095 on 22-Aug-2016 and a 52 week low of Rs 925.2 on 17-Mar-2016. Last one week high and low of the scrip stood at Rs 1904 and Rs 1851.35 respectively.
 
The promoters holding in the company stood at 51.44 % while Institutions and Non-Institutions held 30.95 % and 16.5 % respectively.
 
The stock is currently trading above its 50 DMA.

***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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