Janssen to Sell Injectable Pain Meds to Piramal EnterprisesBy
Janssen Pharmaceutica, a Johnson & Johnson company based in Beerse, Belgium, has agreed to sell five of its anesthesia and pain management injectable products to Critical Care, a UK-based wholly owned subsidiary of Mumbai, India-based Piramal Enterprises, in an all cash deal for an upfront consideration of $155 million and up to an additional $20 million if the product portfolio achieves certain agreed financial milestones over the next 30 months.
The products to be acquired are Sublimaze (fentanyl citrate), Sufenta (sufentanil citrate), Rapifen (alfentanil hydrochloride), Dipidolor (piritramide), and Hypnomidate (etomidate). Piramal has agreed to acquire the brand names and all related intellectual property associated with the products, including the know-how to make the active pharmaceutical ingredients (API) and the finished dosage forms. The products are currently marketed in over 50 countries.
The potential acquisition does not include the transfer of any manufacturing facilities or employees. The transaction is expected to close by mid-October 2016, and it is not subject to any further regulatory approvals. As part of the transaction, Janssen will continue to supply finished dosage forms for up to three years and API for up to five years. Janssen will continue to sell the products on behalf of Piramal until the marketing authorizations or relevant business relations are transferred to Piramal.
Source: Piramal Enterprises