Piramal Healthcare and SRL have entered into an agreement for SRL to acquire Piramal Diagnostics Services Ltd, Piramal said in a filing to the Bombay Stock Exchange.
The value of mergers and acquisitions that India Inc snapped up in the first half of the year surged over seven times to a staggering $38 billion or over Rs 1.8 trillion, led by big ticket deals in the telecom and pharma sectors.
Driven by Reliance Infratel's $10.86 billion merger deal with GTL Infrastructure, the total value of merger and acquisition deals in the country jumped nine-fold to $24.8 billion in the second quarter of 2010.
Piramal Healthcare is planning a string of acquisitions in the biotech space in the US, Europe and Canada in the next two to three years.
Piramal Healthcare, which recently sold its domestic formulations business to Abbott Labs for about Rs 18,000 crore (Rs 180 billion), has announced a bonus payment of up to six months' salary to its employees.
Drug firm Piramal Healthcare on Tuesday said it will acquire assets of troubled Canadian medical device firm BioSyntech for Canadian $3.9 million (around Rs 17 crore).
US-based Abbott Laboratories has sued Sun Pharmaceutical Industries and Ranbaxy Laboratories in courts there for challenging the patents of its cholesterol-lowering drugs, Niaspan and TriCor, respectively, in separate infringement suits.
'Those who have seen the functioning of the Modi government in Gujarat know that the issues related to Hindutva and issues of economy and growth function simultaneously.' 'Modi's politics are based on the understanding of the middle-class consumer society which is in pursuit of material aspirations.' Sheela Bhatt/Rediff.com reveals the Modi government's economic and political plans for the year ahead.
The year 2014 is coming to an end. It was the year of conflict, the year of strife. Year 2014 will be remembered for several reasons -- the rise and threat of the Islamic State, the downing of two Malayasia Airlines aircraft and the sudden and effective way of using hastags on social media to generate a buzz about the event. After all, who can forget #theicebucket challenge and the phenomenon it grew into. Read on as we bring you an overview of international news and events of 2014.
For the first time, two Indian-origin women have been elected to the House of Commons, setting a new record for representation of ethnic minorities in Britain.
The International Cricket Council released the provisional squads of the 12 teams for next year's World Cup in Australia and New Zealand on Friday. However, co-hosts Australia and minnows Ireland decided against releasing the provisional list although they submitted 30 names to the parent body within the stipulated deadline.
Deals worth nearly $17 billion have got cancelled including -- the $14.5 billion Reliance-LyondellBasell deal, the $2 billion Reliance-Value Creation transaction, the $12 million PVR-DT Cinemas deal and the $130 million Wockhardt-Abbott Laboratories deal.
With a pay packet of $84.5 million, software major Oracle's Larry Ellison has emerged as the highest paid CEO in the US last year
Vishwas More, retired chief engineer of the University of California, Berkeley and Stanford University labs, who proudly proclaims he is 'a life-long Republican', and a veteran of political conventions, will attend his fifth Republican National Convention this week in Tampa, Florida, as an alternate delegate.
Prime Minister Narendra Modi on Tuesday said Australia will not be at the periphery of India's vision but at the centre of its thought, as he called for closer bilateral security cooperation and a comprehensive global strategy to tackle the menace of terrorism.
Currently, FDI up to 100 per cent is allowed in the drugs and pharmaceuticals on the automatic route.
The goal-scorers in the 12th men's hockey World cup in Delhi.
Title favourites Australia registered the biggest win in the history of the hockey World Cup, inflicting a humiliating 12-0 defeat on South Africa in a Pool B match.
The goal-scorers in the 12th men's hockey World Cup, which is underway in Delhi.
Australia's squad for the 12th hockey World Cup in New Delhi.
More than 250 Indians have been accused of assault in Victoria during 2008-09, with nearly 86 of them for sex abuse, the latest figures from Australian police on violent crimes claim.
Coached by Ric Charlesworth, former technical consultant of the Indian hockey team, the Aussies are aiming to end a 24-year wait for a World Cup title. The tournament will be held in Delhi from February 28 to March 13.
Over 20 drug companies marketing anti-obesity drug sibutramine under a variety of brand names are likely to soon face a ban on selling the medicine.
The court's stand is expected to help Wockhardt conclude the deal within a month's time.
India's teen wizard Rani Rampal and defender Sardar Singh have made it to the FIH All Stars team, International Hockey Federation announced on Saturday.
Australia rallied to beat Germany 5-3 and clinch a record 10th Champions Trophy final in Melbourne on Sunday.
Religare Enterprises, the financial services group promoted by Malvinder Singh and Shivinder Singh, was in advance talks with the Ajay Piramal group to buy a 60 per cent stake in the latter's private equity and fund management venture, Indiareit Fund Advisors, for Rs 175 crore, said an executive close to the development.
Concerned over the recent takeover of some firms by MNCs, the domestic pharmaceutical industry has asked the government to protect and promote it by making available funds for research and development.
The IPA complaint turns significant in the backdrop of increasing talk about foreign companies buying into Dr Reddy's, Piramal Healthcare and Aurobindo.
Australia proved too good for India in the men's hockey tournament at the Commonwealth Games on Thursday. The World champions thrashed the hosts 5-2 in a Pool A match and took a step closer to the semi-finals. Desmond Abbott (2nd minute), Trent Mitton (6th), Eddie Ockenden (48th), Liam de Young (54th) and Glenn Turner (58th) scored for Australia while Dharamvir Singh (12th) and Sandeep Singh were India's goal-getters.
Beleaguered drugmaker Wockhardt has a new management team in place to implement a three-year strategic plan to get back on track. The company has seen at least four senior-level exits in the last few months.
Currently 100 per cent FDI is allowed in the sector.
As Labor and the opposition Liberal-National party coalition were projected to win 73 seats each in the 150-seat parliament, the three independents, Rob Oakeshott, Tony Windsor and Bob Katter have virtually become kingmakers.
The film is an utterly delightful and fresh take on the classic fairy tale -- Snow White.
Piramal Healthcare acquired 4.36 million shares from the open markets through its two promoter companies, PHL Holding Pvt Ltd and Swastik Safe Deposit & Investment.
This will follow Israel's exit from the Index and entry into the MSCI World Index, comprising developed markets.
Mayank Agarwal's 37-ball 60 was in vain as Australia Under-19 registered a 15-run consolation victory over their Indian counterparts in the final one-dayer of the three-match series, in Perth, on Friday. Opting to bat, the Australians accumulated 276 for 7 in 50 overs, thanks to Jason Floros's 59-ball 70 and Joel Garrett's 52 off 47 balls, before skittling out the Indians for 261 in 47.3 overs at the WACA. India won the series 2-1.
With India's stock markets being one of the best performing among the emerging markets, a number of global pension funds are planning to make India-specific allocations.
Going by the teams' past 4-4 win-loss record in World Cups, there is little to separate the two hockey powerhouses. But a win on Thursday will not only earn one of them a spot in the title clash, but also give them the edge when it boils down to rivalry between the two countries in the tournament.
The goal-scorers at the men's hockey World Cup being played in Delhi.
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