Piramal Health looks at buyout for expansion
In talks with global players to acquire contract research facilities, critical care biz
Piramal Healthcare, sitting on a huge pile of cash after selling its main business to Abbott, is set to strengthen its global presence in contract research and manufacturing services (CRAMS) and critical care business through the acquisition route.
The company is engaged in talks with a clutch of global players to acquire contract research facilities and business as well as pain management and anaesthetic products for critical care division, said N Santhanam, executive director and COO. Piramal sold its domestic formulation business to US-based Abbott Labs for Rs 17,000 crore last year.
The Indian CRAMS market was pegged at approximately $3.8 billion in 2010 and is estimated to touch $7.6 billion by 2012. For more visit: Business-Standard
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