Nicholas Piramal to buy HLPL for $3.8M
Mumbai-based Nicholas Piramal India says that it has signed a definitive agreement to purchase the pharmaceutical business of Healthline Private Limited (HLPL) for a consideration of 150.0 million rupees ($3.8 million).
HLPL has a modern injectables manufacturing unit at Bangalore for small- and large-volume injectable products. The current facility was commissioned in 2004 and has a capacity of 10 million vials per annum on a single shift basis. Nicholas Piramal will invest additional resources at the facility to expand capacity and secure US Food and Drug Administration standards.
Commenting on the acquisition, Ajay Piramal, chairman, Nicholas Piramal said that his company "is committed to expand its custom manufacturing offering to global customers. HLPL is a good asset, which will expand our high-end manufacturing solutions from India"
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