Piramal to acquire Bayer's PET tracer assets

The Piramal Imaging S.A. subsidiary of Piramal Healthcare Ltd. (BSE:500302; NSE:PIRHEALTH) will acquire worldwide rights to the PET imaging tracer assets of Bayer AG (Xetra:BAYN). The deal includes Bayer's florbetaben, a PET tracer labeled with fluorine 18 (F-18) that binds beta amyloid. The product is in Phase III testing to detect beta amyloid plaque deposition in the brain, which is associated with Alzheimer's disease. Bayer is eligible for undisclosed milestones and royalties. The deal is expected to close this quarter. Details were not disclosed. Piramal was off Rs6.55 to Rs443.80 on Monday. ...