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Piramal Heathcare Settles Lawsuit, Amends Articles

Two pieces of news on Piramal Healthcare (PIRHEALTH).

In one, they settle a patent case with Baxter, which had sued them about over the inhaled anaesthetic Suprane, which PIRHEALTH got when they acquired Minrad.

Piramal Critical Care, a subsidiary of Piramal Healthcare, announced that patent litigation with Baxter Healthcare regarding generic anesthetic Suprane has been dismissed by the Delaware District Court pursuant to a settlement between the parties.

As per the terms of the agreement, both parties agreed that Piramal may launch its generic Desflurane in the United States as of Jan. 1, 2014, subject to regulatory approval.

Also, the company wants to expand into seven other sectors: Financial services, Insurance, security systems, Infra/Real Estate, engineering, IT and packaging.

This may sound like a joke, but remember this is just a change of articles – I have started companies and I’ve written stuff in the articles that make it sounds like my business will do everything from manufacturing birdseed to writing software for nuclear submarines. The point is to get as wide a berth as possible. I won’t read too much into an article-change.

Disclosure: Long.

  • Kshitij says:

    This “mindless” expansion is looked down by a certain breed of analysts.
    I, for one, would have been happier if the founders showed their original brilliance (moving from textile to pharma) and showed interest in better and more promising opportunities than the usual run off the maill businesses.
    Does someone really believe you will get a bazooka growth in telecom or these other sectors the management is talking about? This looks unimpressive and disappointing to me. There seems to be no serious thought at all behind their future strategy.