Nicholas Piramal acquires Pfizer's Morpeth, U.K., facility

By Elaine Rigoli

Tampa, Fla., June 15 - Nicholas Piramal India Ltd. said its 100% U.K. subsidiary, the NPIL Pharmaceuticals Ltd., has agreed to acquire Pfizer, Inc.'s Morpeth, U.K.-based facility on an asset purchase basis.

The transaction includes:

• A supply agreement up until November 2011 totaling potential revenues above $350 million;

• Site fixed assets and property;

• Certain net current assets.

Nicholas Piramal anticipates funding the total consideration to be paid and any needed incremental net current assets from its projected pre-acquisition internal accruals of fiscal-year 2007.

The transaction is on a liability and cash free basis, according to a news release.

Morpeth is a supply hub for certain Pfizer products supplied to the United States, Europe and Japan, the release said.

Nicholas Piramal, located in Mumbai, India, provides health care solutions to address prevention, diagnosis and treatment of diseases.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.