Nandini Piramal, heir apparent to the Piramal business empire as the elder child of Ajay Piramal and Swati Piramal, became the executive director of Piramal Healthcare in April this year. A 29-year-old graduate from Hertford College of Oxford University, with an MBA from the Stanford Graduate School of Business, she joined the firm in 2006 as a General Manager and has been closely associated with the company's overseas subsidiaries in the US and Canada.
Piramal Healthcare is planning a string of acquisitions in the biotech space in the US, Europe and Canada in the next two to three years.
Pays $640 million, may exit when Vodafone lists its India operations.
Piramal is pragmatic when he says he's equally clear the conglomerate approach may not be beneficial in the long run. "It's not that we are married to the idea of having everything together permanently."
Piramal Healthcare on Wednesday said it has completed the sale of its domestic formulations business to US-based Abbott Healthcare and has received Rs 10,271 crore (Rs 102.71 billion) as initial consideration for the same.
US-based Abbott on Friday said it will acquire India's Piramal Healthcare's domestic formulation business for $3.72 billion (about Rs 17,484 crore).
Billionaire Gautam Adani's group has created a new company for its foray into healthcare services through the acquisition of large hospitals, diagnostic chains, and offline and digital pharmacies. Adani Enterprises Ltd - the group's business incubator firm - in a regulatory filing said a wholly-owned subsidiary, Adani Health Ventures Ltd (AHVL) was incorporated on May 17, 2022. AVHL will "carry on the business of healthcare-related activities including, inter alia, setting up, running, administrating medical and diagnostic facilities, health aids, health tech-based facilities, research centers and to do all other allied and incidental activities in this regard," it said.
Piramal Healthcare and SRL have entered into an agreement for SRL to acquire Piramal Diagnostics Services Ltd, Piramal said in a filing to the Bombay Stock Exchange.
Piramal-led company had announced the purchase of a 5.5 per cent stake in Vodafone Essar for $640 million.
Piramal Healthcare, which recently sold its domestic formulations business to Abbott Labs for about Rs 18,000 crore (Rs 180 billion), has announced a bonus payment of up to six months' salary to its employees.
With local companies facing stress in domestic operations, valuations are down.
Not far back, in 2010, SRL Diagnostics, promoted by former Ranbaxy promoters Malvinder and Shivinder Singh, acquired the diagnostic services business of Piramal Healthcare for Rs 600 crore (Rs 6 billion).
This includes the equity, debt as well as guarantees issued for overseas ventures.
The cash-rich Piramal Healthcare has closed its second deal in the past month to strengthen its pharma research and development business. The company has said it would acquire the US-based Decision Resources Group (DRG) for a consideration of nearly $635 million (Rs 3,400 crore).
Samina Vaziralli, daughter of joint Managing Director M K Hamied, was inducted into the company management. Cipla joins the league of major companies such as Lupin, Wockhardt, Elder Pharma, Piramal Healthcare and JB Chemicals in this regard.
Even after investing almost Rs 6,000 crore, Ajay Piramal, chairman of the company, insists it is a short-term investment.
Antacid Digene and pain drug Brufen have been among the top in their categories in India for decades. But not their manufacturer, Abbott.
The Drug Controller General of India (DCGI) has sought clarification from pharma majors Dr Reddy's Laboratories and Mumbai-based Piramal Healthcare, for allegedly sponsoring doctors for conferences.
The rupee's appreciation of 6.4 per cent against the dollar and 12 per cent against the euro is likely to hurt the first-quarter performance of the pharmaceutical sector, indicate a results' preview by broking houses.
India's largest domestic drug maker, Cipla, sold its emergency contraceptive brand, i-pill, to Piramal Healthcare in a deal worth Rs 950 million
Fortis Healthcare Chairman Malvinder Mohan Singh on Wednesday said it planned to launch an IPO for its diagnostics business unit, Super Religare Laboratories (SRL), in 2011. SRL had acquired the diagnostics business of Piramal Healthcare for Rs 600 crore in the first quarter of this financial year.
Harvard-educated Piramal is also in the boards of several companies, including Piramal Life Sciences, SBI Capital Markets Ltd and Prudential ICICI Management.
PLSL's lead molecule under development for cancer treatment has completed two Phase-I studies.
The Mumbai-based Piramal Healthcare is preparing to become the first private sector company to process opium for use in pharmaceutical products.
Leading Indian drug majors, such as Ranbaxy Laboratories, Dr Reddy's Laboratories, Piramal Healthcare and Wockhardt, are in-licensing popular products from overseas drug makers to boost their domestic sales.
Drug firm Piramal Healthcare on Tuesday said it will acquire assets of troubled Canadian medical device firm BioSyntech for Canadian $3.9 million (around Rs 17 crore).
After decades of hunt for fortune abroad, India's pharmaceutical companies now plan to strike gold in their own backyard. Large players from Ranbaxy to Dr Reddy's and Piramal Healthcare are all headed to rural India to boost their revenues.
Dr Reddy's Laboratories, Nicholas Piramal and other Indian drug makers are relying on niche and smaller value, acquisition strategy for growth owing to global slowdown and failure of big-ticket acquisitions in the past.
The less-than-anticipated results of a few big-ticket acquisitions made in the previous year earlier also acted as a dampener. Piramal Healthcare, Biocon and other drug makers spent about Rs 1,800 crore (Rs 18 billion) in 2008 for acquiring assets abroad, compared to more than Rs 5,500 crore (Rs 55 billion) spent in 2007 in 14 such major deals, according to Business Standard data.
In one of the largest FDI deals in realty sector, global private equity Warburg Pincus will invest Rs 1,800 crore (Rs 18 billion) in Piramal Realty, which would use the funds to develop mixed-use projects in the megalopolis.
Food regulator has closed more than 15 files.
It takes 6 to 8 months after the approval for a product to hit stores.
The Delhi high court had earlier allowed Indian pharma major Wockhardt to sell its Ace Proxyvon tablets, which is a mixture of three salts -- aceclofenac, paracetamol and rabeprazol -- a combination that is banned.
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The report comes at a time when the government is trying to clear pending FDI proposals, which include various planned investments in this sector.
Analysts are divided on the deal valuations. Some say Torrent could have bargained harder, as Sanofi, among others, passed it over.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In 2010, Abbott acquired both the pharmaceutical business of Solvay, which had a presence in India, and Piramal Healthcare Solutions, which was part of Piramal Group.
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