Piramal Pharma surges as its arm inks pacts to acquire ‘Kenalog’ from BMS
Piramal Pharma is currently trading at Rs. 158.65, up by 4.40 points or 2.85% from its previous closing of Rs. 154.25 on the BSE.
The scrip opened at Rs. 149.75 and has touched a high and low of Rs. 159.45 and Rs. 148.30 respectively. So far 373292 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 245.00 on 29-Jan-2025 and a 52 week low of Rs. 148.30 on 29-Jan-2026.
Last one week high and low of the scrip stood at Rs. 159.45 and Rs. 148.30 respectively. The current market cap of the company is Rs. 20948.95 crore.
The promoters holding in the company stood at 34.86%, while Institutions and Non-Institutions held 45.35% and 19.79% respectively.
Piramal Pharma’s step-down wholly owned subsidiary -- Piramal Critical Care B.V. has entered into definitive agreements for acquisition of ‘Kenalog’ and its associated brands from Bristol-Myers Squibb Company (BMS) for an upfront consideration of $35 million, and contingent consideration up to an amount not exceeding $65 million, payable on agreed operational and financial milestones. The transaction closing is subject to the fulfilment of certain substantive closing conditions.
Kenalog, a branded commercial injectable product containing Triamcinolone Acetonide, is a synthetic corticosteroid with anti-inflammatory, antipruritic & antiallergic action and is indicated as an adjunctive therapy in acute gouty arthritis, rheumatoid arthritis, and other conditions to treat inflammation. It is currently marketed by BMS across 15 countries under multiple trademarks such as Kenalog, Kenacort, Trigon, and Adcortyl. The said acquisition is expected to further leverage the company’s extensive distribution network spanning across 6,000 plus hospitals in more than 100 countries and is also expected to help broaden the CHG product portfolio, adding a new lever of growth for the future, especially in US, Europe & Asia pacific.
Piramal Pharma provides end-to-end pharma services to customers and a portfolio of differentiated pharma products across a domestic and global distribution network.
