Michael Jackson 'close to death': reports

London: Pop legend Mikaeel Jackson is suffering from a rare lung condition and is "close to death", a British newspaper has claimed. Jackson needs to undergo an emergency transplant operation but he is too weak to be rushed into surgery and may even be fighting for his life, the 'Sunday Express' quoted Ian Halperin, who is penning a biography on the singer, as saying.  According to Halperin, 50-year-old Jackson has been diagnosed with Alpha 1-antitrypsin deficiency, a genetic condition that can be fatal in severe cases, and the singer is now so ill he can barely speak and has lost as much as 95 per cent of the vision in his left eye. "He has had Alpha 1-antitrypsin deficiency for years but it's gotten worse. He needs a lung transplant but may be too weak to go through with it. "He also has emphysema and chronic gastrointestinal bleeding which his doctors have had a lot of trouble stopping. It's the bleeding that's the most problematic part. It could kill him," Halperin said.  Author Halperin has also claimed that Jackson's lung conditions -- which affects only one in 5,000 Americans -- has been difficult to treat due to its associated health problems. "For years, Mikaeel has been working with his own doctors to try to make sure it doesn't progress. He has been on many medications that have stabilised him," he was quoted by the British newspaper as saying. Though Jackson's official spokeswoman wouldn't comment on Halperin's claims but his elder brother Jermaine seemed to have confirmed that the singer has serious health issues. "He is not doing so well right now. This isn't a good time," he told America's 'Fox TV News'.

Piramal Healthcare acquires US company

India's major Pharma and healthcare company, Piramal Healthcare Tuesday announced acquisition of Minrad International, an US-based generic inhalation anesthetics provider, for a total consideration of $40 million.

Piramal Group Chairman Ajay Piramal told newspersons here that the offer to Minrad was in consistent with the commitment of Piramal to build a serious global presence in critical care. He said the strategic combination would give Piramal access to key intellectual property for the manufacture of inhalation anesthetics, including process based intellectual property for both servoflurane and desflurane and would provide Piramal an immediate entry into the US market for selvoflurane, the largest selling inhalation anesthetic in that country.

He said the two companies have signed a definitive merger agreement under which Minrad will merge with a newly incorporated wholly owned subsidiary of Piramal. 

If the merger is completed shareholders of Minrad would receive $0.12 per share in cash.

In connection with the merger agreement, Piramal has also agreed to acquire Minrad's 89 per cent senior secured convertible notes from the note holders. 

The total consideration for the merger and acquisition of the notes, in cash plus the assumption of debt would be approximately $40 million. 

The transaction was conditional on approval by Minrad's shareholders and other customary closing conditions. It was not subject to any financing contingency and was expected to close in the first quarter of next fiscal.

Upon merger the combined Company would have marketing and sales presence in 108 countries. The Board of the two companies had approved the move. 

Concurrently with the signing of the merger agreement, Piramal provided Minrad with a senior secured loan of $12 million to provide it with capital for operations during the period preceding the closing of the merger.