Nicholas Piramal acquires Pfizer's UK facility
Nicholas Piramal India Ltd on Tuesday said it has completed the acquisition process of Pfizer Inc at Morpeth, UK, on asset purchase basis for an undisclosed amount.
By PTI |
MUMBAI: Nicholas Piramal India Ltd on Tuesday said it has completed the acquisition process of Pfizer Inc at Morpeth, UK, on asset purchase basis for an undisclosed amount.
The acquisition was completed as per the schedule on June 19, the company informed the Bombay Stock Exchange.
The deal includes a supply agreement till November 2011 totaling potential revenues of above $350 million, site fixed assets and property and certain net current assets, it said adding, and the transaction is on a liability and cash free basis.
The acquisition is the third by Nicholas Piramal after acquiring Rhodia's inhalation anesthetics business in December 2004 and Avecia's custom manufacturing business in December 2005.
The Morpeth unit is one of Pfizer's global, integrated facilities with end-to-end production and supply chain capabilities that cover Active Pharmaceutical Ingredients, finished dosage, packaging and distribution, it said.
The purchase by the company's subsidiary, NPIL Pharmaceuticals, would expand its global footprint, particularly in the finished Active Pharmaceutical Ingredient, contained finished dosage, packaging and supply chain areas, it added.
The acquisition was completed as per the schedule on June 19, the company informed the Bombay Stock Exchange.
The deal includes a supply agreement till November 2011 totaling potential revenues of above $350 million, site fixed assets and property and certain net current assets, it said adding, and the transaction is on a liability and cash free basis.
The acquisition is the third by Nicholas Piramal after acquiring Rhodia's inhalation anesthetics business in December 2004 and Avecia's custom manufacturing business in December 2005.
The Morpeth unit is one of Pfizer's global, integrated facilities with end-to-end production and supply chain capabilities that cover Active Pharmaceutical Ingredients, finished dosage, packaging and distribution, it said.
The purchase by the company's subsidiary, NPIL Pharmaceuticals, would expand its global footprint, particularly in the finished Active Pharmaceutical Ingredient, contained finished dosage, packaging and supply chain areas, it added.
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