April 16, 2012 by staff · Comments Off
Alzheimer’s Disease Stage, Drugmaker Piramal Healthcare sees revenue potential of $1.5 billion from its newly acquired florbetaben molecule, which could be used to treat Alzheimer’s disease, its chairman, Ajay Piramal, said on Monday. The company will file for US approval of the treatment in late 2012, Piramal added.
Ajay Piramal aid the acquisition was the second of late stage assets after a similar transaction of BioSyntech assets in 2011.
Financial details of the deal were not available. Ajay Piramal, Chairman of the Piramal Group, said the acquisition was the second of late stage assets after a similar transaction of BioSyntech assets in 2011.
“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,” he said. As per the agreement, Piramal will have the intellectual property (including patents, trademarks and know-how), worldwide development, marketing and distribution rights of the lead compound florbetaben as well as other clinical and pre-clinical assets of Bayer’s molecular imaging business, the filing said.