Piramal eyes CRO acquisitions
Piramal Healthcare is planning to raise Rs 10bn ($218m) over the next six to eight months to fund overseas acquisitions, with the India-based company eying several sectors including contract research.
The Economic Times of India reports that the company has formed a committee to investigate how to raise the capital which will be needed to repay debt and fund acquisitions.
Swati Piramal, strategic alliances and communications director at Piramal, explained that the company is “looking at acquisitions in healthcare and pharma like over-the-counter (OTC), patented drugs, contract research and research molecules”.
Piramal added that the company is open to acquisitions in “any geography”.
