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Press Release: Piramal Canada sells BST Cargel to S&N

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Press Release: Piramal Canada sells BST Cargel to S&N

14/01/2016

Press Release: Piramal Enterprises announces sale of its Canada-based cartilage repair product, BST-CarGel® to Smith & Nephew Montreal, January 12, 2016: Piramal Enterprises Limited (‘PEL’, NSE: PEL, BSE: 500302) today announces the sale of BST-CarGel® from Piramal Healthcare (Canada) Limited, based in Montreal, Canada to Smith & Nephew (NYSE:SNN;LSE:SN), the global medical technology business. BST-CarGel® is a first-line cartilage repair product used along with microfracture and other bone marrow stimulation techniques for the initial treatment of most sizes of focal cartilage tears. Through this transaction, an affiliate of Smith & Nephew plc will acquire ownership of all product and intellectual property assets related to BST-CarGel.