PRESS RELEASE

Nicholas Piramal Seals Product In-Licensing Agreement with Ethypharm, France for the Indian Market

Mumbai 16 August 2004:   Nicholas Piramal India Limited (NPIL) today announced the completion of their product in-licensing agreement with Ethypharm, France for the Indian market. This in-licensing agreement with Ethypharm will further augment NPIL’s presence in the fields of Pain Relief and Paediatric Care. NPIL already has leading Paediatric brands like Phenergan, Kidpred, Omnatax O and Tixylix. 

NPIL’s in-licensing deal with Ethypharm, France is for licensing of technology for Paracetamol Flash tablets. Nicholas Piramal will use the technology to manufacture dispersible tablets to address the Pain relief & Fever indications market, especially for pediatric use. 

Under the agreement, NPIL will source raw material from Ethypharm and manufacture dispersible formulations using the technology at its Pithampur Plant. Nicholas Piramal will distribute the product in the Indian market under its own brand name. The Indian market for this segment is estimated to be Rs. 100 Crores.

Ethypharm is one of the World's leading drug delivery system (DDS) companies that provides health scientists with effective solutions to optimize the delivery of active molecules into the body. The use of Ethypharm's DDS technologies delivers important benefits including improving the drug's efficacy, enhancing patient compliance and comfort, extending the life cycles of existing pharmaceutical products, and reducing the total cost of treatment. Ethypharm is an established DDS company with capabilities from research through to manufacturing and has successfully launched 50 products in over 70 countries. R&D activities are also conducted at local facilities in connection with their operations in China and India.

Ethypharm's oral enhanced absorption technologies are designed to optimize the delivery profile of active ingredients. Ethypharm's innovative technologies make it possible to improve the solubility and oral absorption of a range of active molecules, which are vulnerable to more traditional techniques due to their chemical fragility. These technologies can be used for both the oral and pulmonary delivery of macromolecules that otherwise could only be administered through injection. This has obvious benefits such as enhanced patient comfort and convenience. In addition, the use of oral enhanced absorption technologies make it possible to lower health care costs by allowing the patients to take medicines that previously had to be administered by healthcare professionals.

Nicholas Piramal India Limited is one of India’s Leading Pharmaceutical Companies with a diverse portfolio of Branded Formulations, Vitamins, APIs and Diagnostics. The Company had FY2004 Net Sales of Rs. 12.7 billion. Nicholas Piramal is ranked fourth in domestic formulations sales and second in total domestic pharmaceuticals sales. 

For further information please contact

Vijay Sathye
Vice President, Investor Relations and M&A
Nicholas Piramal India Ltd.
Tel: 9122 - 56637899
Mobile:  9324689774
E-mail: vsathye@nicholaspiramal.co.in

Piyush T Suraiya
Branch Head
Imprimis Life PR
Tel: 9122 - 24380264
Mobile: 98201 23502
E-mail: psuraiya@imprimispr.com