Archive for the ‘Pharmaceuticals’ Category

Indian Industry News: Abbot Acquires Piramal Healthcare

Abbot India has acquired Piramal Healthcare (domestic formulations) for an upfront payment of $2.12 billion and an additional payment of $400 million annually for the next four years. Piramal Healthcare will retain its contract manufacturing, critical care and over the counter all of which cumulatively generate Rs 1,700 crore revenue but where margins are lower.

The Piramal group is a branded generics company with a market share of 4%. This move will result in Abbot becoming the market leader with 7% share in India. Read more…


Indian Pharma Exporters to Cheer

The Japanese government is encouraging the use of cheap generic drugs because the age demographics are tilted towards the elderly, which is resulting in a higher spend on social security. From the current 17% market share, Japanese government plans to convert at least 30% of the country’s drug prescription to generic or off-patent drugs by 2012.

This will give an opportunity to Indian generic drug makers, especially those who already have a presence in Japan. Read more…