ABBOTT ACQUISITION OF PIRAMAL HEALTHCARE SOLUTIONS PDF

Throughout the past decade, Abbott has established a leading presence in emerging markets — today, more than 20 percent of the company's total sales are generated in these growing economies. White, chairman and chief executive officer, Abbott. Combined with existing product offerings, Abbott is uniquely positioned to meet the needs of one of the world's fastest-growing pharmaceutical markets. India's rapid pharmaceutical market growth is being driven largely by branded generics. Piramal's Healthcare Solutions business has a comprehensive portfolio of branded generics, including market-leading brands in multiple therapeutic areas, including antibiotics, respiratory, cardiovascular, pain and neuroscience. The Healthcare Solutions business will operate as a separate business unit, reporting into Abbott's newly-created Established Products Division EPD , which was formed to focus on branded generics, maximizing the opportunity in emerging markets.

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Need urgency in implementation of policy to overcome present crisis: Ajay Piramal. Billionaire Ajay Piramal plans to step down from Shriram Capital. Report about Softbank backing out is misleading: Ajay Piramal. All rights reserved. For reprint rights: Times Syndication Service. Biotech Healthcare Pharmaceuticals. Market Watch. Pinterest Reddit. By Kiran Kabtta Somvanshi. Arijit Barman. The firm was going live with new enterprise software to eventually integrate with Piramal Pharma.

The excitement could be heard in the voice of chief executive Vivek Sharma, who had flown in from Boston for a townhall with the team and to announce an incentive pay scheme for the Ash Stevens employees. More than a year after joining the evergrowing Piramal family, the year-old contract manufacturing firm catering to pharma and biotech companies continues to undergo transition, starting from the very top. A new commercial officer, financial manager and HR head are on board. For the Piramals, though, this sixth acquisition in North America has been a strategic add-on.

However, he retained the smaller segments of drug discovery, over-the-counter OTC consumer products and contract manufacturing. And within eight years, these have actually grown larger than what he sold; arguably, at the right time. It explains the frenzied speculation of a domestic formulations re-entry, as the September no-compete deadline nears.

Group chairman Ajay Piramal offers a sneak peek into his mind when he says the industry has undergone a sea change in these eight years. There is also far more competition and restrictions on drug promotion.

We will see how pans out. Something like a Unichem would have been a great platform. In s and early s, when everyone was into reverse engineering and knock-offs, he decided to partner with Big Pharma MNCs and not go against them. The domestic formulations exit was timely and generated funds that were deployed in a host of other businesses such as financial services, realty and information management.

Simultaneously, Piramal continued to build on fledgling pharma segments. She recalls a dinner conversation with her parents and sibling Anand the night before the Abbott transaction was announced.

We deliberately kept OTC. From the Rs 15, crore it received from Abbott, Rs 6, crore was invested in the pharma segment. The business has now grown to earn revenues of Rs 4, crore — Rs 3, crore from global pharma generics and Rs crore from OTC products sold in India.

An eye on profitability and market potential has also influenced exits. In the medium term, it is likely to be hived off and listed separately to unlock value and visibility. We have just delegated responsibilities to independent teams for more accountability. It proposed using India for cost arbitrage but leveraging a global footprint to stay closer to the customer.

With innovators lacking infrastructure to outsource too far, Piramal acquired manufacturing capabilities in the US. It has paid off in unique ways. We have seen plants that have been in remediation for years.

The cost of reputation is also very high. We also deal with niche biotech players high on innovation and drug discovery, but lacking a team. Throughout, the play has been for such high-margin, niche products, which also includes injectibles and antibiotics that are used in operation theatres and critical care units.

The competition is among a handful of players ensuring better pricing power. However, niche is by no means small. Many countries are putting in trade barriers and there is increasingly a shift towards local production in the US and EU. Keeping the order pipeline robust is becoming a challenge. Here too, the entry was largely after spotting a vacuum in the market. Not many local companies were doing OTC; the larger ones were all outsiders or non-pharmaceuticals.

The company has invested significantly in building sales force, distribution and product innovation. But it received a boost only after the Abbott sale. MNCs have struggled in the Indian intellectual property regime. We bought them cheap and invested in marketing and advertising spend to remind people. The segment has a Rs 1,crore revenue target for FY It is also the fastest-growing despite price controls and fixed-dose combinations. Even then, the pharma business remains low key, with rivals calling it too unconventional.

Nonetheless, with his differentiated strategy, Ajay Piramal remains the last man standing. Read more on Ajay Piramal. Piramal Pharma. Add Your Comments. Follow us on. Download et app. Become a member. To see your saved stories, click on link hightlighted in bold.

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Abbott buys Piramal's pharma arm for $3.7bn

Exhibit For Immediate Release. Abbott Media :. Melissa Brotz. Scott Stoffel.

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Abbott snaps up Piramal's formulations biz for $3.7 bn

Abbott will pay Rs per share. On Friday, Piramal Healthcare stocks went up to Rs This deal will push Abbott to the number one slot in the Indian pharma landscape. Abbott, which will fund the transaction with cash on the balance sheet, says, the deal will be conducted through its wholly-owned subsidiary. The deal, subject to Piramal Healthcare shareholder approval, is expected to close in the second half of

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The inside story of how Ajay Piramal’s pharma empire received a boost after the Abbott sale

Warmuth, senior vice-president at the established products division of Abbott, told Mint on Friday. Announcing the deal on Friday, Ajay Piramal, chairman of Piramal Healthcare, reiterated his commitment to stay invested in the pharmaceuticals business, albeit in the OTC over-the-counter segment, drug discovery, critical care and diagnostics space. Piramal started the pharma business in and has expanded it through organic and inorganic growth. The Abbott deal is the fourth biggest acquisition of an Indian drug business by a foreign drug maker in the last three years. Hospira Inc. Piramal justified the sale by saying that future value from the branded generics business would come from business growth outside India.

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Need urgency in implementation of policy to overcome present crisis: Ajay Piramal. Billionaire Ajay Piramal plans to step down from Shriram Capital. Report about Softbank backing out is misleading: Ajay Piramal. All rights reserved. For reprint rights: Times Syndication Service.

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