Piramal’s wholly owned Critical Care subsidiary in the UK PCC has completed its previously announced acquisition of Intrathecal Therapy business from Mallinckrodt for $203m.
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PCC is engaged in the field of anaesthesia.
The business markets products for the treatment of spasticity through intrathecal drug delivery, including Gablofen (baclofen), a severe spasticity management product currently marketed in the US.
As part of the agreement announced in January this year, Piramal also acquired two pain management products that are under development at present, as well as used for intrathecal administration.
The acquired portfolio generated revenues of $44.6m in the 12 months ending 30 September 2016.
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By GlobalDataApproved for launch in eight European markets, Gablofen is an intrathecal baclofen drug available in vials and pre-filled syringes.
It is approved by the US Food and Drug Administration (FDA) for use in management of severe spasticity of cerebral or spinal origin in adult and paediatric patients aged four and above.
PCC has a marketing presence in more than 100 countries, with manufacturing locations in the US and India.
The segment’s product portfolio includes inhalation anaesthetics, injectable anaesthesia and pain management products, as well as other critical care products such as plasma volume expanders.
Image: Piramal acquires a portfolio of drugs for spasticity and pain management from Mallinckrodt. Photo: courtesy of Danny de Bruyne/Freeimages.com.
