Indications are that the consideration is in the region of Rs 6-10 crore though this could not be officially confirmed.

The deal probably marks the Piramals' third major brand acquisition effort in the last few years. Nicholas Piramal had earlier acquired the Lacto-Calamine skin lotion brand from Duphar Interfran and subsequently bought the Burnol brand (an antiseptic first aid cream) from Knoll Pharma via its joint venture with Reckitt & Colman, Reckitt Piramal.

The Eli Lilly anti-infective brands involved are believed to be Tobraneg (tobramycin) to treat infections of the respiratory tract,central nervous system, Vancocin (vancomycin) for treatment of life-threatening staphylococcal infections resistant to other antibiotics, besides others like Distaclor and Keflex. It is unclear whether Mucokef, another Lilly brand is also part of the deal but finer legal details are being sewn up.

Significantly, analysts say that now that the sale of brands has been finalised, it may also cast doubts over the long-term future of the American multinational's joint venture with the Delhi-based Ranbaxy. "Eli Lilly Ranbaxy's performance has probably not been as interesting to both partners if the US giant has disposed of these brands," an analyst with an Indian stock-broking house said.

Eli Lilly Ranbaxy is a 50:50 joint venture between the two partners and has been marketing a range of formulations like Illetin 30/70, Humalog and Huminsulin for diabetes, besides Gemcite for cancer. More recently, Eli Lilly Ranbaxy was reportedly working on clinical trials on a new human insulin combination used for thetreatment of diabetes.

Ranbaxy and Eli Lilly had earlier called off plans to undertake manufacturing activities through their research and development (R&D)-cum-production venture in India. This 50:50 joint venture was essentially formed in 1995 to manufacture bulk drugs to feed the US market. The duo also mutually called off their US-based joint venture, Lilly Ranbaxy Pharmaceuticals initiated to market dosage forms there.