Piramal Pharma Limited (PPL) announced that its step-down wholly owned subsidiary, Piramal Critical Care B.V., has entered into definitive agreements to acquire the Kenalog® brand and its associated brands from Bristol-Myers Squibb Company (BMS). The acquisition involves an upfront consideration of US$ 35 million (approximately ₹291 crore) and a contingent consideration of up to US$ 65 million (approximately ₹541 crore), payable upon achievement of agreed operational and financial milestones. Kenalog®, a branded commercial injectable product containing Triamcinolone Acetonide, is a synthetic corticosteroid used for anti-inflammatory, antipruritic, and antiallergic actions. It is indicated for adjunctive therapy in acute gouty arthritis, rheumatoid arthritis, and other inflammatory conditions. BMS currently markets the product under various trademarks, including Kenalog®, Kenacort®, Trigon®, and Adcortyl®, across 15 countries. The acquisition is expected to enhance PPL's distribution network, which spans over 6,000 hospitals in more than 100 countries. It aims to broaden the company's CHG product portfolio and drive future growth, particularly in the US, Europe, and Asia Pacific markets. The transaction is subject to the fulfillment of certain closing conditions and is not considered a related party transaction.
