Piramal Healthcare buys German co’s brand

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Mumbai, Jul 2: Piramal Healthcare has completed a definitive agreement with Plasma, Germany (PlasmaSelect) to acquire PlasmaSelect’s polygeline based blood plasma products marketed under the brand name 'Haemaccel' in over 38 countries. Piramal Healthcare will pay cash consideration of Euro 7.7 million for the transaction.

PlasmaSelect also markets the product under the brand name `Emagel` in Italy and `Solucel` in Venezuela. Piramal Healthcare currently markets the products under the brand name `Haemaccel` in India and under the brand name `Haemageline` in 17 other countries. This acquisition is intended to bring global leadership to Piramal Healthcare`s polygeline-based blood plasma expansion products, a release said here. The total yearly revenues of Haemaccel and associated brands of Piramal healthcare and PlasmaSelect together are Euro 9.1 million, at current exchange rates. Shares of the company gained Rs 4.75 or 1.58%, to settle at Rs 305.8.

Commenting on the acquisition, Ajay Piramal, chairman, Piramal Group said, "Over the years, we have recognised the compelling potential of the global critical care business. We aspire to become a leading global player in this business with our worldwide distribution network and state-of-the-art manufacturing facilities in India. This acquisition is a stepping stone in that direction and a reflection of our commitment to knowledge and innovation, dynamic action and care that empowers - consistent with our group`s values."

Blood plasma expansion products are a part of the global critical care business division of Piramal Healthcare. The global critical care division markets a range of important hospital pharmaceuticals, including Halothane / Isoflurane inhalation anaesthetics. The acquisition is consistent with Piramal Healthcare`s objective of growing its global critical care business.