Pfizer concludes Rs 110 crore deal with Piramal Enterprises

In May this year, Ajay Piramal-led Piramal Enterprises had entered into an agreement to acquire four brands from Pfizer for a consideration of Rs 110 crore

PTI September 26, 2016 17:55:03 IST
Pfizer concludes Rs 110 crore deal with Piramal Enterprises

New Delhi: Drug maker Pfizer Monday said it has completed the process of transferring four products to Mumbai-based Piramal Enterprises after getting necessary regulatory approvals.

Pfizer concludes Rs 110 crore deal with Piramal Enterprises

Pfizer Inc. AP

"Post completion of requisite formalities and receipt of necessary regulatory approvals for the transaction, the company has concluded the transaction. Accordingly, the aforementioned products stand transferred to Piramal Enterprises," Pfizer said in a regulatory filing.

In May this year, Ajay Piramal-led Piramal Enterprises had entered into an agreement to acquire four brands from Pfizer for a consideration of Rs 110 crore.

The acquisition includes brands Ferradol, Neko, Sloan's and Waterbury's compound. The agreement also includes the trademark rights for Ferradol and Waterbury's Compound in Bangladesh and Sri Lanka.

Pfizer shares today ended at Rs 1,930.40 apiece on the BSE, down 1.66 per cent from previous close.

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