BUSINESS

Piramal Healthcare buys U.S. company

MUMBAI: Piramal Healthcare, formerly Nicholas Piramal, has acquired outstanding capital stock of U.S.-based RxElite Holdings for a cash consideration of $4.2 million. This gives Piramal ownership of RxElite Holdings’ sales and distribution network in the U.S. and complements Piramal’s pending acquisition of inhalation anaesthetic gas manufacuter Minrad International in December 2008, the company said in a statement.

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