Pharmaceuticals/Acquisitions Bayer Sells Molecular Imaging Portfolio to Pirmamal
Piramal Healthcare has signed an agreement to acquire worldwide rights to the molecular imaging research and development portfolio of Bayer Pharma through a newly created subsidiary. The deal includes rights to Alzheimer treatment florbetaben, which is in the final stages of its Phase III clinical trials.
Mumbai/India; Leverkusen/Germany – Florbetaben is a PET tracer for the detection of beta-Amyloid plaque deposition in the brain, which is the pathological hallmark of disease in probable Alzheimer’s disease patients. Detection of beta-Amyloid depositions is expected to result in earlier diagnosis and more specific treatment of Alzheimer’s disease.
Piramal Targets European Markets
Commenting on the transaction, Ajay Piramal, Chairman Piramal Group, said, “This is the second acquisition of late stage assets after our acquisition of assets of BioSyntech in 2011, where we have recently received the European CE mark approval for an innovative bio-orthopaedic product for cartilage repair, BST-CarGel, which enables the company to commercialize BST-CarGel in all of the countries in the European Union. 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.”