Code:
$ cat file
PARMA1=('VAL11'),PARMA2=(VAL21 ), PARMA3= VAL31 ,PARMA4= VAL41 ,PARMA5 = 'VAL51',PARMA6=(VAL61)
PARMB1=('VAL11'),PARMB2=(VAL21 , VAL22,VAL23), PARMB3= VAL31 ,PARMB4=(VAL41,VAL42),PARMB5 = 'VAL51',PARMB6=(VAL61)
PARMC1=('VAL11'),PARMC2=(VAL21 ), PARMC3= VAL31 ,PARMC4= VAL41 ,PARMC5 = 'VAL51',PARMC6=(VAL61)
PARMD1=('VAL11'),PARMD2=(VAL21 , VAL22,VAL23), PARMD3= VAL31 ,PARMD4=(VAL41,VAL42),PARMD5 = 'VAL51',PARMD6='VAL61'
PARME1=('VAL11'),PARME2=(VAL21 ), PARME3= VAL31 ,PARME4= VAL41 ,PARME5 = 'VAL51',PARME6=(VAL61)
$ cat file | awk '{gsub(",","|",$1)}1' FS=\) RS=\( OFS=\) ORS=\(
PARMA1=('VAL11'),PARMA2=(VAL21 ), PARMA3= VAL31 ,PARMA4= VAL41 ,PARMA5 = 'VAL51',PARMA6=(VAL61)
PARMB1=('VAL11'),PARMB2=(VAL21 | VAL22|VAL23), PARMB3= VAL31 ,PARMB4=(VAL41|VAL42),PARMB5 = 'VAL51',PARMB6=(VAL61)
PARMC1=('VAL11'),PARMC2=(VAL21 ), PARMC3= VAL31 ,PARMC4= VAL41 ,PARMC5 = 'VAL51',PARMC6=(VAL61)
PARMD1=('VAL11'),PARMD2=(VAL21 | VAL22|VAL23), PARMD3= VAL31 ,PARMD4=(VAL41|VAL42),PARMD5 = 'VAL51',PARMD6='VAL61')PARME1=('VAL11'),PARME2=(VAL21 ),.........