Piramal Healthcare acquires German blood plasma product

Mumbai, Jul 2 (UNI) Leading Indian pharmaceutical and healthcare company, Piramal Healthcare Limited today announced acquisition of polygeline-based blood plasma products from Germany-based PlasmaSelect AG.

The Company said in a release here that it had arrived at a definite agreement with the German company for polygeline-based blood plasma products marketed under the brand name ''Haemaccel'' in over 38 countries. In addition, PlasmaSelect also marketed the product under the brand name ''Emagel'' in Italy and ''Solucel'' in Venezuela.

This acquisition was intended to bring global leadership to Piramal Healthcare's polygeline-based blood plasma expansion products. Piramal Healthcare currently markets the products under the brand name ''Haemaccel'' in India and under the brand name ''Haemageline'' in 17 other countries.

Blood plasma expansion products are life-saving infusion pharmaceuticals that help maintain blood plasma volume until blood transfusion can be administered to the patient, in the event of blood loss. These products also serve a range of other critical care needs in hospitals and critical care facilities.

The total yearly revenues of Haemaccel and associated brands of Piramal Healthcare and PlasmaSelect together are Euro 9.1 million, at current exchange rates.

Piramal Healthcare would pay cash consideration of Euro 7.7 million for the transaction. The transaction included the brand rights, contracts, registrations, dossiers and know-how relating to Haemaccel and associated brands. It excluded the manufacturing facility of PlasmaSelect at Marburg, Germany. Piramal Healthcare is setting-up a new EDQM and UKMHRA-compliant Haemaccel manufacturing facility at Baddi, India with an initial rated capacity of 4.2 million units. This capacity would be able to service the expanded Haemaccel sales. PlasmaSelect would continue to manufacture Haemaccel as per Piramal Healthcare's requirements to facilitate orderly migration of manufacturing to the new facility at Baddi, India.

Commenting on the acquisition, Ajay Piramal, Chairman of Piramal Group said ''Over the years, we have recognised the compelling potential of the Global Critical Care business. We aspire to become a leading global player in this business with our worldwide distribution network and state-of-the-art manufacturing facilities in India. This acquisition is a stepping stone in that direction and a reflection of our commitment to knowledge and innovation, dynamic action and care that empowers - consistent with our Group's values.'' UNI VK SSS SKB1637