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Indian Pharma MNC Piramal Investing in German Molecular Imaging Technology
Date:8/30/2012

BERLIN, August 30, 2012 /PRNewswire/ --

Innovative medical research in Germany

In April 2012, Indian MNC Piramal took over Bayer HealthCare's molecular-imaging pipeline and has since then been continuing research and development work on the acquired PET radiopharmaceuticals in its labs in Berlin. Speaking at a press conference Mr. Ajay Piramal, Chairman of Piramal Group commented on the strategy saying, "Molecular imaging is one of the key technologies paving the way to individualized medicine. Our acquisition of a powerful pipeline in this field hence, is an important milestone on the road to an innovative pharmaceutical portfolio for us."

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Florbetaben, Piramal's most advanced PET tracer, enables the detection of beta-amyloid deposits in the brain and could therefore open the door to the early diagnosis of Alzheimer's disease. "A phase III study to test the reliability of florbetaben in the histopathological detection of beta-amyloid has been successfully completed. Submission of the dossier for drug approval by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) is expected later in 2012. In addition, Piramal Imaging is working on other PET tracers for various medical indications," said Dr. Swati Piramal, Vice-Chairperson of Piramal Enterprises

According to Christoph von Knobelsdorff, Permanent Secretary at the Berlin Senate's Department of Economics, Technology and Research, Piramal Imaging's decision to come to Berlin is a real gain for the city as a business location, underlining its reputation as a center of knowledge-based economy. "Piramal has made a good choice with Berlin. The healthcare industry in the capital region is highly innovative and offers above-average growth potential. The density of the scientific and research institutions here is unique throughout Europe. Our policy a
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SOURCE Piramal Group
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