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PRESS RELEASE
Nicholas Piramal India
Limited contemplating acquisitions.
Mumbai, 16 May 2006: Nicholas Piramal India Limited
(NPIL)'s strategy, as indicated in its notice to the stock
exchanges on April 25, 2006, is to grow through acquisitions.
From time to time, the Company may consider making such
acquisitions, as it deems necessary for the purposes of its
business (particularly in respect of companies in a line of
business similar to its own), such as acquisitions may entail
entering into exclusivity arrangement(s) with potential
sellers. The target(s), if acquired, may constitute a
significant proportion on the Company's net assets, revenues
and earnings and may also result in an increase in the level
of leverage of the Company. It is presently unclear whether
the Company shall enter into any binding agreement(s) to
acquire any such target(s).
At this stage it is not possible for the Company to predict
the outcome of such exclusivity processes or whether the
Company will be successful at all in any of its bid to acquire
such target(s). To the extent that the Company enters into any
commitment with regard to potential acquisitions the Company
will make further announcements to disclose more details.
About Nicholas Piramal India Limited
Nicholas Piramal India Limited is one of India's largest
pharmaceutical companies, with strong brand management, sales
and technical capabilities. The Company is ranked 4th in the
India market with a product portfolio spanning nine
therapeutic areas. NPIL's had consolidated Revenues of US$352
million in 2005-06. The Company has R&D capabilities in
Basic Research, Custom Chemical Synthesis, Process Innovation
and NDDS.
NPIL's Global Sales are focused on custom manufacturing for
large and medium innovator companies. The Company is committed
to IPR, and does not participate in the early-to-market
Generics market. NPIL has world-class formulations facilities
and USFDA-approved facilities for on-and-off patent APIs.
NPIL is listed in India on the Bombay Stock Exchange,
National Stock Exchange and Ahmedabad Stock Exchange. For
further information, visit www.nicholaspiramal.com
For further information contact:
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