Piramal Pharma has acquired Kenalog®, a branded commercial injectable product, from Bristol-Myers Squibb Company (BMS) for an upfront consideration of US$ 35 million. Contingent consideration up to US$ 65 million is payable on agreed operational and financial milestones. The acquisition is expected to leverage Piramal’s distribution network and broaden its product portfolio, especially in the US, Europe & Asia Pacific regions.
Kenalog® Acquisition
Piramal Pharma Limited has entered into definitive agreements to acquire Kenalog® and its associated brands from Bristol-Myers Squibb Company (BMS).
Deal Terms
The acquisition includes an upfront consideration of US$ 35 million. Furthermore, contingent consideration up to US$ 65 million will be payable based on the achievement of certain operational and financial milestones. The transaction is subject to customary closing conditions.
About Kenalog®
Kenalog® is a branded commercial injectable product containing Triamcinolone Acetonide, a synthetic corticosteroid used as an adjunctive therapy in acute gouty arthritis, rheumatoid arthritis, and other conditions. It is currently marketed by BMS across 15 countries under trademarks such as Kenalog®, Kenacort®, Trigon®, and Adcortyl®.
Strategic Rationale
The acquisition of Kenalog® is expected to leverage Piramal’s extensive distribution network, which spans over 6,000+ hospitals in more than 100 countries. This move is also anticipated to broaden Piramal’s CHG product portfolio, creating new growth opportunities, especially in the US, Europe, and Asia Pacific markets.
Source: BSE
