In a recent statement released by the company, the Nicholas Piramal India Ltd (NPIL) has announced that it has entered into an agreement with the Healthline Private Ltd (HLPL). The officials of the company have stated that the agreement has been signed in order to acquire the HLPLs pharmaceuticals business and the NPIL has made an announcement of Rs 15 crore for the acquisition.
The Chairman of NPIL, Mr. Ajay Piramal was talking about the acquisition and said that the acquisition of the pharmaceuticals business of HLPL would expand the high-end manufacturing solutions of NPIL from India. He added that the acquisition comes even as NPIL commits itself to expand its custom-manufacturing offering to the global customers. The sources from the industry are informing that the HLPL is currently having a modern injectables manufacturing unit at Bangaluru that works for the small and large volume injectable products.
While talking about the facility of HPCL in Bangaluru, one of the top officials of the company said that the facility was established in the year of 2004 and the capacity of this facility is 10 million vials per annum on a single shift basis. The sources from the NPIL further said that the company would also invest some additional resources at the facility with a view to expand the capacity and also to secure the USFDA standards.
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| Posted : 1/24/2008 |
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