Nicholas Piramal of India snaps up inhalation anaesthethic unit of Rhodia.
Economic Times (New Delhi, India), December, 2004
Dec. 18--MUMBAI, India -- Nicholas Piramal has acquired the global inhalation anaesthetic business of Rhodia Organique Fine, UK, for a consideration of $14m. This is Nicholas Piramal's first overseas acquisition and will give the company a direct entry into the regulated markets.
Speaking to ET, Ajay Piramal, chairman, Nicholas Piramal, said the company already has a presence in the inhalation anaesthetics business and could leverage on it.
"Most of the overseas acquisitions made by Indian pharma companies have been in the generic space. However, we have identified a niche that we will leverage to gain a presence in the regulated market," he said. Nicholas Piramal was advised in this transaction by Lazard.
Rhodia's inhalation anaesthetic...
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