Navigation Links
Nicholas buys ICI’s drug business for Rs 70 c

Pharmaceutical major Nicholas Piramal India Ltd. (NPIL) has acquired the pharmaceutical business of ICI (India) Ltd. For Rs 70 crore in an all-cash deal, on a going concern basis. The amount includes Rs 14 crore towards acquiring net current assets of ICI and Rs 1 crore to NPIL by ICI towards transaction costs. The deal includes ICI’s key brands and its manufacturing facility at Ennore, near Chennai, with 150 employees.//

Announcing the deal, Mr Ajay Piramal, Chairman, NPIL, said that with the latest acquisition, the company had become the number one player in the cardiovascular segment. ICI’s pharma sales amounted to Rs 69 crore in 2000-2001. This is the second acquisition by the company in the past two years. In 2000, it had acquired Rhone-Poulenc India.

It is also the latest in a series of acquisition by the company, vaulting it into the league of Rs 1,000-crore pharma firms.The acquisition of the ICI business brings with it key brands in the cardiovascular segment, such as Tenormin, Inderal, Zestril and Tenochlor, which will catapult NPIL to the number one position in the Rs 1,300-crore India cardiovascular market. The other players in the segment are Cipla, Zydus Cadila, Torrent Pharmaceuticals and Sun Pharmaceuticals.

Mr Piramal said, “This acquisition is significant for our presence in high-growth segments such as cardiovascular, central nervous system and critical care segment. The niche or speciality bulk drugs that are exported by the business have no competition from India and limited international competition.” ICI’s pharma business has about 357 employees, including a field force of 200.
'"/>




Page: 1

Related medicine news :

1. Abbott Laboratories to buy Biocompatibles cardiovascular stent business
2. Argentine Meat Export business gets a jolt from Russia.
Post Your Comments:
*Name:
*Comment:
*Email:


(Date:10/13/2017)... ... 13, 2017 , ... Ellevate Network, the leading network for professional women, brought ... gender equality at their inaugural Summit in New York City in June. The event ... audience of over 3 million. To watch the Mobilize Women video, click here ...
(Date:10/13/2017)... ... October 13, 2017 , ... “The Journey: From the Mountains to the ... save lost souls in the Philippines. “The Journey: From the Mountains to the Mission ... of the Bible. She has taught all ages and currently teaches a class of ...
(Date:10/12/2017)... ... 2017 , ... The company has developed a suite of ... authorities worldwide. From Children’s to Adults 50+, every formula has been developed by ... , These products are also: Gluten Free, Non-GMO, Vegan, Soy Free, Non-Dairy*, Preservative ...
(Date:10/12/2017)... ... October 12, 2017 , ... Dr. Parsa Mohebi, the Los ... article to the newly revamped Cosmetic Town journal section, featuring articles ... procedure known as Follicular Unit Extraction (FUE). , Dr. Mohebi says ...
(Date:10/12/2017)... ... 2017 , ... Health Literacy Innovations (HLI), creator of the ... the Cancer Patient Education Network (CPEN), an independent professional organization that shares best ... alliance. , As CPEN’s strategic partner, HLI will help support CPEN members ...
Breaking Medicine News(10 mins):
(Date:9/25/2017)... R.I. , Sept. 25, 2017  EpiVax, ... assessment, vaccine design, and immune-engineering today announced the ... on the development of personalized therapeutic cancer vaccines. ... has provided exclusive access to enabling technologies to ... Eng., MBA will lead EpiVax Oncology as Chief ...
(Date:9/22/2017)... -- AVACEN Medical (AVACEN) announced that its CE-Marked AVACEN ... with the widespread pain associated with fibromyalgia in the ... Essex, England commented, "I had difficulty ... sleep at all, tremendous pain, with every movement sending ... AVACEN 100] enough, how this has and is helping ...
(Date:9/18/2017)... ALLENTOWN , Pa. and KALAMAZOO, Mich. ... Allentown, Penn. , and OptiMed Specialty Pharmacy ... a business partnership to offer a strategic hub service ... PMD Healthcare,s highly sought-after personal spirometer, Spiro PD 2.0, ... A spirometer is a medical device used ...
Breaking Medicine Technology: