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news.Piramal Healthcare has agreed to acquire Indian bio-pharmaceutical company Bharat Serums And Vaccines' (BSV) injectible anesthetic product range business including Propofol, Bupivacaine and Atracurium Besylate, currently developed and manufactured by BSV at its own plant.
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The acquisition is expected to give Piramal access to key intellectual property developed by BSV for the manufacture of injectible anesthetic products including process based intellectual property and business contracts.
As per the terms of the agreement, BSV will enter into a long term manufacture and supply agreement with Piramal Healthcare for anesthetic products developed and manufactured by BSV.
Bharat Daftary, chairman and managing director of Bharat Serums and Vaccines said: “We are very pleased to partner with Piramal Healthcare for marketing of our anesthetic products. BSV has built a strong presence globally for its anesthetic product range and Piramal’s focus on anesthetics will build on our foundation of product development and marketing, adding the value to both companies.
“This will enable us to focus on our core competencies of cutting edge research, development and manufacturing of innovative bio-pharmaceutical and bio-tech products.”
Propofol is used for induction or initiation of anesthesia while Bupivacaine is used for local anesthesia. Atracurium Besylate is used to provide muscle relaxation during surgery.