Piramal Healthcare to raise Rs.10 bn in 6-8 months
January 6th, 2010 - 5:33 pm ICT by IANSKolkata, Jan 6 (IANS) Pharmaceutical major Piramal Healthcare is planning to raise Rs.1,000 crore (Rs.10 billion) in the next six-eight months, a senior company official said here Wednesday.
“We will raise Rs.1,000 crore within the next six-eight months. A committee is looking at issues like how to raise it,” Piramal Healthcare Strategic Alliances and Communications Director Swati A. Piramal told reporters.
She was speaking on the sidelines of a summit on ‘West Bengal - The Investment Destination’ by Associated Chambers of Commerce and Industry (Assocham).
The money raised will be used to repay debt and fund likely foreign acquisitions.
“We are looking at acquisitions in healthcare and pharma like OTC (over-the-counter), patented drugs, contract research, research molecules,” Piramal said.
Asked if the company is looking at multiple acquisitions, she said: “It could be variety. We have not decided yet.”
Piramal declined to specify any particular geography of acquisition, saying the company is open to “any geography”.
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- Cash-rich Piramal picks up another 5.5 percent in Vodafone - Feb 04, 2012
- Abbott to buy Piramal's branded drugs business for $3.71 bn (Roundup) - May 21, 2010
- Abbott to buy Piramal's branded drugs business for $3.71 bn (Lead) - May 21, 2010
- Piramal concludes sale of formulations business to Abott - Sep 08, 2010
- Piramal, Baxter settle patent issue - Nov 01, 2011
- Dr.Reddy's acquires JB Chemicals business in Russia - Jul 23, 2011
- Foreign investment in pharma to face competition check - Oct 11, 2011
- Regulate foreign investment for cheaper medicines: Azad - Nov 01, 2010
- Issues affecting Indian biopharma industry discussed - Jun 10, 2011
- Competition check for FDI in pharma will help consumers: CUTS - Oct 11, 2011
- Ranbaxy, Russian region sign healthcare pact - Jan 31, 2011
- Pirmal Healthcare scrip up 1.62 percent day after Vodafone deal - Aug 11, 2011
- Sweet deal: EID Parry acquires balance stake in US firm - Oct 07, 2011
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