The Life Sciences M&A team guided a subsidiary of Piramal Pharma Limited (NSE: PPLPHARMA) (BSE: 543635) (“Piramal”) on its acquisition of the global rights to Kenalog® from Bristol-Myers Squibb (NYSE: BMY) in an all-cash deal for upfront consideration of $35 million and contingent consideration of up to $65 million.
Kenalog® is a branded commercial injectable product with complex manufacturing requirements, complementing the complicated hospital generics product portfolio of Piramal.
Piramal Pharma Limited offers a portfolio of differentiated products and services through its 171 global development and manufacturing facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a complex hospital generics business; and Piramal Consumer Healthcare (PCH) business, selling over-the-counter consumer and wellness products. In addition, one of PPL's associate companies, Abbvie Therapeutics India Private Limited, a joint venture between Abbvie and PPL, has emerged as one of the market leaders in the ophthalmology therapy area in the Indian pharma market. Further, PPL has a strategic minority investment in Yapan Bio Private Limited that operates in the biologics / bio-therapeutics and vaccine segments.
The Goodwin team was led by Mayan Katz, Jennifer Ford, and Ana Carolina Zattar and included Kris Brown, Robert Crawford, Evan De Ycaza, Huiya Wu, Dan Karelitz, Benjamin Gossels, Elizabeth Mulkey, and Heath Ingram.
For more information on the deal, please read the press release.