Abbott Indian buy
September 9, 2010
ABBOTT has finalised its
acquisition of Piramal’s Healthcare
Solutions, and in doing so has
become a front-runner in the
Indian pharmaceutical market.
The sale saw Abbott pay an
upfront fee of US$2.2 billion, and
will also require the company to
make four US$400 million
payments over the next four years.
According to reports, the
transaction will not impact on its
ongoing earnings as per 2010
share guidance.
“The acquisition of Piramal’s
Healthcare Solutions business
further strengthens Abbott’s
growing presence in emerging
markets,” said Miles
White, chairman and chief
executive officer, Abbott.
“Piramal’s portfolio of wellknown,
trusted products has served
patients in India for decades.
“Combined with existing product
offerings, Abbott is uniquely
positioned to meet the needs of one
of the world’s fastest-growing
pharmaceutical markets,” he said.
In response to a rapidly growing
Indian market, Abbott has also said
it expects that its own
pharmaceutical sales within the
region will be in advance of US$2.5
billion by 2020.
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