Piramal Group
| Public company | |
| Industry | Diversified Conglomerate |
| Founded | 1984 |
| Headquarters | Mumbai, Maharashtra, India |
|
Key people
|
Ajay Piramal, Swati Piramal, Nandini Piramal, Anand Piramal |
| Website | http://www.piramal.com |
The Piramal Group is a diversified global business conglomerate, which has presence across various sectors such as healthcare, life sciences, drug discovery, healthcare information management, specialty glass packaging, financial services and real estate. Ajay Piramal is the chairman of the Piramal Group.
In the early 1980s, Ajay Piramal took over the reins of the Piramal Group. In 1984, the group acquired Gujarat Glass Limited, a manufacturer of glass packaging for pharmaceutical and cosmetic products, followed by Ceylon Glass in 1999. In 1988, the group bought Nicholas Laboratories, the company which later flourished and by 2010 reached the highest valuation in the pharmaceutical industry. Over the decade, the company acquired many business units to strengthen their presence. In 2006, the company bought Pfizer’s UK manufacturing facility, Morpeth. The company also formed Piramal foundation, a philanthropic arm of the group.
In the year 1999 Piramal Glass acquired Ceylon Company Ltd, Sri Lanka. The year 2006 saw Piramal Healthcare being listed as a global leader by S&P Global Challengers. Piramal also acquired Pfizer's Morpeth UK facility.
In 2007, it underwent a deal with Merck for development and discovery of new drugs. In 2008, it signed second drug development deal with Eli Lilly. The company Nicholas Laboratories was renamed to Piramal Healthcare Ltd. In 2010, the domestic formulations business was sold to Abbott. It was considered to the most expensive deal. In the same year, the group formed its own real estate entity, Piramal Realty.
2011 saw Fortune 500 ranking Piramal Healthcare in the top-50 largest corporations across India. Also, UN Conference on Trade and Development’s World Investment Report 2011 ranked Piramal Healthcare as No. 5 in the top 10 pharmaceutical contract manufacturers worldwide. In 2011-12, Piramal bought 11% in Vodafone Essar. In 2014, it sold its 11% Stake in Vodafone India to Prime Metals, an indirect subsidiary of Vodafone Group. In 2012, Piramal Healthcare was renamed to Piramal Enterprises Ltd. BST-CarGel, Piramal's innovative bio-orthopaedic product for cartilage repair, received European CE mark approval. Piramal's Decision Resources Group acquired Abacus International, a UK based global market access solutions company for many of the world’s leading healthcare companies.
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