Piramal Pharma has agreed to acquire the global rights to the Kenalog injectable brand and associated products from Bristol-Myers Squibb for a total consideration of up to US $100 million (approximately ₹900 crore).
The acquisition was announced through a regulatory filing by the company’s wholly owned subsidiary, Piramal Critical Care B.V., which signed a definitive agreement with BMS for the transaction.
Under the terms of the deal, Piramal Pharma will make an upfront payment of $35 million, with additional contingent consideration of up to $65 million linked to operational and financial milestones tied to the business.
Kenalog, whose active ingredient is triamcinolone acetonide, is an off-patent long-acting corticosteroid used in treating severe inflammation, including arthritis, bursitis and certain allergic conditions. The product is marketed under several trademarks including Kenalog, Kenacort, Trigon and Adcortyl across about 15 countries.
The acquisition is expected to broaden Piramal Pharma’s complex hospital generics and injectable portfolio, enhancing its presence in key markets such as the United States, Europe and the Asia-Pacific region. The brand’s established global footprint is seen as a complement to the company’s existing hospital-oriented product offerings and distribution network.
Piramal Pharma has emphasised investments in portfolio expansion and new product acquisitions as part of its strategy to drive growth and diversify its product base.
