Express Pharma

Piramal Pharma completes acquisition of Hemmo Pharmaceuticals

In March this year, Piramal Pharma entered into an agreement to acquire a 100 per cent stake in Hemmo Pharmaceuticals for an upfront consideration of Rs 775 crore and earn-outs linked to the achievement of milestones

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Piramal Pharma has completed the acquisition of Hemmo Pharmaceuticals, according to a statement released by the company.

“We wish to inform you that PPL has completed the acquisition of Hemmo on 22nd June, 2021
and the transaction is now closed,” said the statement.

In March this year, Piramal Pharma entered into an agreement to acquire a 100 per cent stake in Hemmo Pharmaceuticals for an upfront consideration of Rs 775 crore and earn-outs linked to the achievement of milestones, the statement added.

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