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PRESS RELEASE
Nicholas Piramal enters
into a Joint Venture with ARKRAY, Inc. Japan, for marketing
Diagnostic products.
Mumbai, India 19 December 2007:
Nicholas Piramal India Limited (“NPIL”) (NSE: NICOLASPIR, BSE:
500302) and Kyoto, Japan based ARKRAY, Inc. have entered into
a 49:51 Joint Venture to market Diagnostic products, mainly
Self-Monitoring Blood Glucose System in the Indian market.
ARKRAY, Inc. is a market leader in the self-monitoring blood
glucose market in Japan with a dominant market share. Its
products are also distributed in over 80 countries around the
world.
Under the agreement, NPIL will transfer all its existing Blood
Glucose Monitoring Business into the JV for a consideration of
Rs. 40 million. The JV will market these products and will
also launch other blood glucose-monitoring Systems of ARKRAY,
Inc. including new product in India. The blood glucose system
market in India is estimated to be more than Rs. 1 billion in
size and is estimated to be growing around 20% p.a.
Commenting on the collaboration agreement, Dr. Swati Piramal,
Director - Strategic Alliances & Communications, NPIL said:
“India has about 41 million people who suffer from diabetes –
a debilitating disease. By collaborating with ARKRAY – NPIL
plans to bring all the latest technology blood glucose
monitoring products launched by ARKRAY to India and thereby
reduce the burden of disease.”
For further information contact:
Notes to editors:
About Nicholas Piramal India Limited:
Nicholas Piramal India Limited ("NPIL") is one of India's
leading pharmaceutical companies with a growth track record of
30% Revenues CAGR since 1988. The Company is currently ranked
fourth in the Indian market with a diverse product portfolio
spanning nine therapeutic areas. NPIL's had consolidated
Revenues of US $ 602 million in FY 2006-07. The Company has
R&D capabilities in Discovery Research, Custom Chemical
Synthesis, Process Innovation, and Drug Delivery Systems. It
has world-class USFDA-approved formulations and API facilities
without any 483s.
NPIL has a long track record of successful collaboration with
innovator companies. Since early-2000, the Company has made
significant investments in Discovery Research and Custom
Manufacturing Operations (CMO) for Innovator Companies.
Nicholas Piramal has a global CMO footprint across North
America, Europe & Asia, and is committed to respecting
Intellectual Property.
NPIL is listed in India on the Bombay Stock
Exchange and National Stock Exchange. For further information,
please mail
investorrelations@nicholaspiramal.co.in
or visit
www.nicholaspiramal.com.
About ARKRAY, Inc.:
ARKRAY, Inc. is a leading healthcare company specializing in
diagnostic products and medical services. Established in 1960,
ARKRAY develops, manufactures and markets innovative
diagnostic products and related medical devices used in
managing chronic diseases such as diabetes. The company’s
primary products include a broad range of blood glucose
monitoring systems, safety lancets and lancing devices, as
well as urine testing equipments and HbA1c analyzer.
www.arkray.co.jp/english/index.html
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