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Piramal Stays The M&A Course; Snaps Up Niche Mallinckrodt Assets

 
• By Anju Ghangurde

India’s Piramal group continues its buying spree, snapping up Mallinckrodt’s intrathecal therapy business, as it seeks limited competition niches to plough deeper into the $20bn-plus global generic injectable hospital drugs market.

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Piramal Enterprises Ltd. (PEL), the diversified Indian healthcare to financial services group, has acquired a portfolio of intrathecal spasticity and pain management drugs from Mallinckrodt LLC – products that complement its expanding critical care business especially in the US.

Mallinckrodt’s Gablofen (baclofen), currently marketed in the US, is the key asset covered in the deal, in addition to two pain management products currently

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