India's Piramal buys Bayer's potential Alzheimer drug

April 16 Mon Apr 16, 2012 8:42am IST

Related Topics

Stocks

   

April 16 (Reuters) - Indian drugmaker Piramal Healthcare has agreed to buy a research and development portfolio from Bayer AG, the company said, in a deal that gives Piramal rights to florbetaben, a possible Alzheimer treatment.

Florbetaben, which is in the final stages of clinical trials, works by detecting symptoms in probable sufferers of Alzheimer's, and is expected to allow earlier detection and specific treatment of the disease, Piramal said in a statement.

Florbetaben is racing with similar Alzheimer's imaging agents from global pharmaceutical companies such as Eli Lilly and Co, Pfizer Inc and General Electric Co to enter a global market estimated at anywhere from $1 billion to $5 billion.

Piramal will acquire intellectual property, worldwide development, marketing and distribution rights of florbetaben and other clinical and pre-clinical assets of Bayer's molecular imaging business in the deal. Financial aspects of the deal were not available.

"We plan to build a promising portfolio in the pharma space, including our newly acquired molecular imaging assets, which will help us create a global branded pharma business," Ajay Piramal, chairman of the Piramal Group, was quoted as saying.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared
Sensex surges over 300 points on energy reforms, state elections

Sensex surges over 300 points on energy reforms, state elections

The BSE Sensex surges over 300 points and the Nifty gains nearly 100 points after the government's energy reforms lead to a rally in energy firms, while wins by Prime Minister Narendra Modi's party in two state elections raise expectations for additional reforms.  Full Article 

REUTERS SHOWCASE

Indian State Media

Indian State Media

Controlling the message: Modi chooses state media  Full Article 

ONGC Stake

ONGC Stake

Govt meeting bankers to discuss share sale in ONGC - source  Full Article 

Gold Curbs

Gold Curbs

Finance Ministry wants to reimpose curbs on gold imports - ET  Full Article 

World Stocks

World Stocks

Shares advance on strong data, earnings  Full Article 

Eyeing Reebok

Eyeing Reebok

Investor group aims to buy Reebok unit - WSJ  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage