Piramal Enterprise is looking to acquire Ind-Swift Laboratories’ contract research and manufacturing business, for a deal which is estimated to the worth of around Rs 1,000-1,200 crore. This acquisition is expected to boost the contract research and manufacturing services (CRAMS) division of Piramal, namely, Pharma Solutions along with its API manufacturing business.
In a bid to diversify into various businesses, Piramal after selling its domestic formulation business to Abbott for Rs 17,600 crore in 2010 has invested into pharma, telecom and information management and financial services sectors.
Meanwhile, Ind-Swift, a north India based pharmaceutical company, is the flagship company of India based Ind Swift Group. Ind-Swift manufactures and markets finished dosage forms, through its different divisions, focusing on the needs of various therapeutic segments. The divisions include Super Speciality, Animal Division, Daignozis, Institutions, Agile, Bio Sciences, Ethical, Health Care, Max Care, Mega care, Neuro and Resurgence.
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