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Piramal Enterprises buys drug portfolio from UK firm

Piramal Enterprises buys drug portfolio from UK firm

Tuesday, January 31, 2017, 12:40 PM

Piramal Enterprises Ltd had bought a portfolio of drugs for spasticity, a muscle control disorder, and pain management from UK-based Mallinckrodt Llc for $171 million in an all-cash deal. Chairman Ajay Piramal says the acquisition is a prelude to Piramal Enterprises’s plans to spin off and list its financial services unit and pharma business.
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