Nicholas to acquire Rhodia business

Nicholas Piramal India Ltd is to acquire Inhalation Anaesthetics, the global inhalation business of Rhodia Organique Fine Ltd (Rhodia) of UK, for a consideration of $14 million.

The board today approved the acquisition of business of the UK-based entity, NPIL said in a communication to the Bombay Stock Exchange.

This business recorded sales of $14 million in 2003. It would give NPIL access to manufacturing technology, facilities and the global sales and marketing rights for two IA products - Halothane and Isofluorane -,  it said. The company would gain complete access to Rhodia's sales and marketing network of exclusive pharma distributors in over 90 countries - including the US, Europe, Japan, Australia and numerous emerging markets, it added.