NPIL join hands with Healthline

Mumbai: Nicholas Piramal India Ltd (NPIL) has entered into an agreement with Healthline Private Ltd (HLPL) to acquire its pharmaceuticals business for a consideration of Rs 15 crore. Mr Ajay Piramal, NPIL’s Chairman said in a company statement that the HLPL asset would expand NPIL’s high-end manufacturing solutions from India. This comes even as NPIL commits itself to expand its custom-manufacturing offering to global customers. HLPL has a modern injectables manufactur ing 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. NPIL will invest additional resources at the facility to expand capacity and secure USFDA standards, an NPIL note said. NPIL shares were down close to four per cent at Rs 289.40 on the BSE on Tuesday.