Piramal Boosts N American Capacity With Ash Stevens Deal
Cash-flush Piramal Enterprises is ramping up its North American drug manufacturing operations through the purchase of Ash Stevens, a US company making high-potency active pharmaceutical ingredients, in the latest in a string of deals for the unconventional Indian group.
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Peter DeYoung, CEO of Piramal Critical Care, expects to build “profitable growth positions” from the injectable products acquired from Janssen. He is also upbeat about the commercialization prospects in Europe for intrathecal baclofen and the potential launch of the first desflurane generic in the US.
The consumer goods arm of Piramal Enterprises makes its third acquisition in six months, keeping up a hectic deal-making pace in its quest to be one of India’s leading OTC players.