The company is demerging its new chemical entity research unit into a separate company to meet the demands of increased spend on research and development, and to insulate investors from the risks involved. According to the deal signed with Merck, NPIL will discover and develop new drugs for two selected targets provided by Merck in the area of cancer.
Domestic pharma firm inks first-of-its-kind pact.
Drug firm Nicholas Piramal India Ltd said on Thursday it plans to invest about $50 million (about Rs 2.25 billion) in the next two years for developing and manufacturing formulations in the UK and India.
Nicholas Piramal India Ltd is to acquire Inhalation Anaesthetics, the global inhalation business of Rhodia Organique Fine Ltd (Rhodia) of UK, for a consideration of $14 million.
Two years after India entered the product patents regime, the year 2007 saw Indian drug firms striving to shed the copycat image and become innovators with emphasis on research activities even as they resisted moves to include more medicines under price control.
Pharmaceutical major Nicholas Piramal India Ltd on Monday said the company was looking for acquisition in United Kingdom and North America to expand its overseas operation.
Nicholas Piramal India Friday launched 'Airitis' (levocetirizine), an antihistamine drug under the company's recently-formed respiratory division, Actis.
Pharma major Nicholas Piramal India Ltd has claimed to have developed a novel anti-cancer drug to arrest and regulate the multiplication of cancer cells.
Nicholas Piramal India is planning to hire 400 scientists in the next five years, and has doubled its R&D budget this year.
Nicholas Piramal India Ltd has bought out the balance 50 per cent stake in Sarabhai Piramal Pharmaceuticals Ltd from Ambalal Sarabhai Enterprises (ASE) for Rs 69.3 crore (Rs 693 million) in an all cash deal to consolidate its presence in pharmaceutic
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