Navigation Links
Abbott Completes Acquisition of Piramal's Healthcare Solutions Business, Becomes Leading Pharmaceutical Company in India
Date:9/8/2010

India's rapid pharmaceutical market growth is being driven largely by branded generics. The market will generate nearly $8 billion in pharmaceutical sales this year, a number that is expected to more than double by 2015. Abbott expects its pharmaceutical sales in India to exceed $2.5 billion by 2020.

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. The business will continue to be led by its current India-based management team.  

"Piramal's proven business model in India and experienced local leadership team, combined with the global resources of Abbott, will allow us to build upon Piramal's commitment to quality and service," said Michael J. Warmuth, senior vice president, Established Products, Pharmaceutical Products Group, Abbott.

Abbott now employs approximately 10,000 people across all of its businesses in India.  

Abbott, through a wholly-owned subsidiary, purchased the assets of Piramal's Healthcare Solutions business for a $2.2 billion up-front payment with additional payments of $400 million annually for the next four years, beginning in 2011. This transaction will not impact Abbott's ongoing earnings per share guidance in 2010.

About Abbott

Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs nearly 90,000 people and markets its products in more than 130 countries.

Abbott's news releases an
'/>"/>

SOURCE Abbott
Copyright©2010 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2

Related medicine technology :

1. Abbott Receives FDA Approval for First Automated Molecular Test for Assessing Hepatitis B Treatment
2. Abbott to Present at Morgan Stanley Global Healthcare Unplugged Conference
3. Abbotts SIMCOR ® ( niacin extended-release / simvastatin ) Receives FDA Approval for New Dosage Strengths
4. Abbott to Feature Novel Tests and New Upgrades to Testing Platforms at American Association for Clinical Chemistry Lab Expo
5. Abbott Receives FDA Clearance for Molecular Diagnostic Test for Detection of Chlamydia and Gonorrhea Infections
6. Abbott to Present Data on Several Investigational Cancer Treatments at American Society of Clinical Oncology Annual Meeting
7. The New England Journal of Medicine Publishes Results of Landmark CREST Study, Showing Similar Positive Outcomes for Abbotts Carotid Stent System and Surgery
8. Abbotts Groundbreaking Bioresorbable Technology Continues to Demonstrate Exceptional Clinical Results
9. Abbotts Investigational MitraClip(R) System Demonstrates Strong Safety Results and Improved Clinical Outcomes for Common Causes of Leaky Heart Valves
10. New Data Reinforces Safety Profile of Abbotts Market-Leading XIENCE V(R) Drug Eluting Stent
11. Assegai Wins Big Settlement Against ABBOTTs Subsidiary
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/20/2013)... 20, 2013 /PRNewswire-iReach/ -- Specific Technologies, today announced ... demonstrating detection of pathogenic bacteria, including potential bioterrorism ... Bacillus anthracis which feature on the ... potential bio-threats. This seminal study, conducted in collaboration ... Salisbury (DSTL), United ...
(Date:5/20/2013)... Md. , May 20, 2013  TRACE International ... 2012 , finding that prosecutions against individuals and ... downward last year. The GER 2012 is ... assesses international anti-bribery enforcement trends. "Although the ... enforcement of bribery laws remained a priority," said ...
(Date:5/20/2013)... Calif. , May 20, 2013 A ... for use both in space and on Earth was ... The technology assures high quality, secure ... and low-power ultrasound units, like those used in hospitals ... already the diagnostic imaging solution of choice for human ...
Breaking Medicine Technology:Specific Technologies Detects and Identifies Potential Bioterrorism Pathogenic Bacteria 2TRACE Releases 2012 Global Enforcement Report 2TRACE Releases 2012 Global Enforcement Report 3Wyle Aided System Gets Named to Space Technology Hall of Fame 2Wyle Aided System Gets Named to Space Technology Hall of Fame 3
(Date:5/20/2013)... Lansing, MI (PRWEB) May 20, ... Michigan Lupus Foundation will be ... meeting in Lansing on June ... Monday, June 10th, 6:30 p.m. ... Professional Building (Across from Sparrow ...
(Date:5/20/2013)... (PRWEB) May 20, 2013 According to ... expenses associated with medical malpractice amount to approximately $3.6 ... the Institute for Healthcare Improvement estimated that there 15 ... Statistics like these suggest that everyone who receives any ... basics of medical malpractice. Merriam-Webster defines malpractice as ...
(Date:5/20/2013)... 20, 2013 Co-founder of Atlanta ... a keynote speaker at the 5th International INVEST Domaining ... conference brings together company representatives and independent individuals from ... Internet marketing and investments. , The 2013 conference will ... Hotel México from May 20 to 21. A networking ...
(Date:5/20/2013)... 2013 Osborn’s Brain: Imaging, Pathology, ... G. Osborn’s 1993 award winning book Diagnostic Neuroradiology (a.k.a. ... bestselling neuroradiology texts. , In this highly anticipated ... make complex topics visually appealing and easy to understand. ... together with spectacular pathology examples, relevant anatomy, and the ...
(Date:5/20/2013)... 20, 2013 The Muscular Dystrophy ... leaders behind bars for good at an Executive Lock-Up ... at 9 a.m. , More than 100 “jailbirds” ... to benefit individuals and families affected by muscle disease. ... officials, local celebrities, realtors, doctors, attorneys, bankers, and members ...
Breaking Medicine News(10 mins):Health News:Law Firm Releases New Informational Graphic on the Basics of Understanding Medical Malpractice Cases 2Health News:EverSpark CEO to be Keynote Speaker at 5th International INVEST Domaining & Internet Marketing Conference in Mexico City 2Health News:Osborn’s Brain from Amirsys Publishing Receives Doody’s Top Honors 2Health News:MDA to Put Fort Lauderdale Community Leaders Behind Bars for Good 2
... after a mastectomy does not reduce the long-term survival of ... had a better chance of survival than those who did ... may boost the morale and self-esteem of the patient, which ... implants could stimulate the immune system and reduce blood flow ...
... successfully treat everything from breast to prostate cancer.// For the ... pancreatic cancer were involved , 42 percent had their tumors ... say , it turns off one of the switches within ... there’s much less side effects because it targets the cancer, ...
... more intense physical activity can help maintain cognitive skills ... // a new study. For the study researchers reviewed ... from the Finland, Italy, and Netherlands Elderly (FINE) study. ... participants was measured and cognitive function was evaluated starting ...
... study finds Alzheimer’s patients lose the ability to do ... ,Researchers conducted a study to look at the association ... 20 patients with Alzheimer’s disease. Eleven of the patients ... moderate Alzheimer’s disease. The study also included 23 healthy ...
... association between the level of sex hormones and an increased ... female hormones estrogen and progesterone play a key role in ... the cells, receiving and interpreting messages sent by the hormones. ... well as some breast cancer cells. Previous research has shown ...
... a new compound known as SP-4-84 could improve chemotherapy ... as cisplatin and camptothecin . ,Study results showed ... 75-times more effective. The compound sensitizes cancer cells to ... the damage caused by chemotherapeutic drugs. However, this was ...
Cached Medicine News:
... CELL-DYN 1700 was developed to address ... environment. Ease of use, low maintenance, ... high reliability are features expected in ... have made fast access to results, ...
... The OSOM Ultra Strep A Test ... Label Technology (DLT)**. DLT uses antibody labeled ... in the test device. DLT allows greater ... without sacrificing specificity. In the test procedure, ...
... The InstaCheck® Menopause Predictor Test is an ... of FSH in urine. Changes in FSH ... the symptoms associated with stages of menopause. ... to obtain a visual, qualitative result and ...
... a wealth of benefits to healthcare professionals and ... measure a complete lipid profile and glucose, ALT, ... in 5 minutes per test cassette (6 minutes ... demo, click here ., ,The accuracy, speed ...
Medicine Products: