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PRESS RELEASE
Nicholas Piramal India
Limited buys Pharmaceuticals business of Healthline Private
Limited, Bangalore.
Acquisition to expand NPIL's Custom Manufacturing business
Mumbai, 22 January 2008:
Nicholas Piramal India Limited (NPIL) (NSE: NICOLASPIR, BSE:
500302) and Healthline Private Limited (HLPL) today announced
that they have signed a definitive agreement for purchase of
HLPL’s Pharmaceuticals business by NPIL for a consideration of
Rs. 150 million.
HLPL has a modern injectables manufacturing unit at Bangalore
for small and large volume injectable products. The current
facility was commissioned in 2004 and has a capacity of 10
million vials per annum on a single shift basis. NPIL will
invest additional resources at the facility to expand capacity
and secure USFDA standards.
Commenting on the acquisition, Mr. Ajay Piramal, Chairman,
Nicholas Piramal said, “NPIL is committed to expand its Custom
Manufacturing offering to global customers. HLPL is a good
asset, which will expand our high-end manufacturing solutions
from India”
Commenting on the acquisition, Mr. Bharat Tandon, Chairman,
Healthline said “ NPIL is a good inheritor of our injectable
business and is well positioned to take this business to
greater heights ”.
Allegro Capital were HLPL’s advisors on the transaction.
For further information contact:
About Nicholas Piramal India Limited:
Nicholas Piramal India Limited ("NPIL") is one of India's
largest pharmaceutical companies with a growth track record of
above 30% CAGR since 1988. The Company is currently ranked 4th
in the Indian market with a diverse product portfolio spanning
nine therapeutic areas. NPIL's had consolidated Revenues of Rs.
24.7 billion in 2006-07. The Company has R&D capabilities in
Custom Chemical Synthesis, Process Innovation, NDDS and Basic
Research. 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
2003, the Company has made significant investments to become a
global custom manufacturing organisation (“CMO") for large and
medium-sized innovator companies. 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.
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