Janssen sells five drugs for $155m

India-based Piramal Enterprises has signed an agreement with Belgian pharmaceutical company Janssen under which Piramal will acquire five anaesthesia and pain management products for $155 million in cash.

The injectable products are Sublimaze (fentanyl citrate), Sufenta (sufentanil citrate), Rapifen (alfentanil hydrochloride), Dipidolor (piritramide), and Hypnomidate (etomidate).

In the agreement, announced on Monday, October 10, the Piramal Critical Care division agreed to acquire the brand names, including all intellectual property related to the products.

Janssen will continue to supply finished dosage forms for up to three years, and active pharmaceutical ingredients for up to five.

The Belgian company will also continue to sell the products for Piramal until the marketing authorisations are transferred to Piramal.

Ajay Piramal, chairman of the Indian company, said in a statement: “This acquisition is critical in shaping our product offerings, providing access to global markets and leveraging our existing capabilities.”

He added: “This acquisition is an important step in enabling Piramal Critical Care to start to address the global generic injectable hospital drug market, which is greater than $20 billion in size. At Piramal, we constantly focus on creating long-term value for our shareholders.”

The transaction is expected to close this week.