“This strategic action will advance Abbott into the leading market position in India, one of the world's most attractive and rapidly growing markets,” said Miles D. White, chairman and chief executive officer, Abbott. “Our strong position in branded generics and growing presence in emerging markets is part of our ongoing diversified pharmaceutical strategy, complementing our market-leading proprietary pharmaceutical offerings and pipeline in developed markets.”
“With this deal, the combined Healthcare Solutions and Abbott businesses will become the clear market leader in India, with a market share of approximately 7%,” said Ajay Piramal, chairman, Piramal Group. “This was our collective vision and I am glad that those who are part of Piramal's Healthcare Solutions business will realize this dream.”