Piramal Enterprises Limited (PEL), a Rs.4,450 crore well diversified company in the segments like pharmaceuticals, financial services and information management, is in the final stages of discussion with the University of Kentucky (UK) for the potential acquisition of Coldstream Laboratories Inc. (‘Coldstream’) for a total consideration of US$ 30.65 million of this.

USD 5.65 million would be towards the Coldstream facility on the research park campus of the university, while the rest would be towards purchase of the company’s shares. This potential transaction is subject to corporate approvals and is expected to be completed by the end of this week.

Coldstream is a contract development and manufacturing organisation (CDMO) focussed on the development and manufacturing of sterile injectable products and is majority owned by University of Kentucky Research Foundation (an affiliate of the University of Kentucky).

The company operates from a FDA approved facility located in Lexington, Kentucky, USA. This acquisition allows PEL to move further into the injectable market segment and has strong synergy with its existing pharma solutions business.

The University of Kentucky is a public, land grant university dedicated to improving people's lives through excellence in education, research and creative work, service, and health care.