Key Developments: Piramal Enterprises Ltd (PIRA.NS)
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Latest Key Developments (Source: Significant Developments)
Piramal Enterprises Ltd Pick Up 10% Stake In Shriram Transport Finance Company Ltd For INR1,652 Crore (INR16.52 Billion)-Business Standard
Business Standard reported that Piramal Enterprises Ltd has picked up 10% equity in Shriram Transport Finance Company Ltd (STFC), a commercial vehicle financier. The Piramal group will fork out INR1,652 crore (INR16.52 billion) to buy the stake from private equity firm TPG. The transaction was through a block deal in the market, with the Piramal group picking up about 22,847,468 shares at INR723 per share. Full Article
Piramal Enterprises Ltd Recommends Dividend
Piramal Enterprises Ltd announced that the Board of Directors of the Company at meeting held on May 03, 2013, has recommended a dividend of INR17.5 per equity share of face value of INR2 (that is 875%) for the financial year ended March 31, 2013 subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. Full Article
Piramal Enterprises Ltd Collabrates With Tata Memorial Centre For Cancer Care-The Economic Times
The Economic Times reported that Piramal Enterprises Ltd and Tata Memorial Centre (TMC) announced their collaboration to enable development of tools for better understanding of the disease and to predict responses to various treatments for cancer patients. The new alliance between the two organisations will focus on the development of pre-clinical cancer models to enhance the understanding of disease biology, treatment response/resistance and biomarkers as they relate to diagnosis, prognosis and response to drugs, a Company statement said. These models will be based on tumour tissues from cancer patients and are predicted to have better translational relevance than the currently used human cancer cell line models. Full Article
FDA Accepts Piramal Enterprises Ltd's Piramal Imaging SA Review Of [18F] Florbetaben
Piramal Enterprises Ltd's Piramal Imaging SA announced that the Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have accepted applications for review of the investigational PET amyloid imaging agent 18F florbetaben. Full Article
Piramal Enterprises Ltd's Decision Resources Group Acquires UK-Based Abacus International-The Economic Times
The Economic Times reported that Piramal Enterprises Ltd's subsidiary Decision Resources Group has acquired UK-based integrated market access service provider Abacus International for an undisclosed sum. Abacus will be a part of the market access business unit at Decision Resources Group (DRG) which currently includes the brands, Fingertip Formulary, HealthLeader-InterStudy, PharmaStrat and Pinsonault, the Company said. The company will continue to be headquartered in Bicester, England, the statement added. Full Article
Piramal Enterprises Ltd's Arm Join Hands With Fujifilm Diosynth Biotechnologies-Business Standard
Business Standard reported that Piramal Enterprises Ltd's healthcare vertical has joined hands with Fujifilm Diosynth Biotechnologies to offer services in area of biopharmaceuticals. Under the agreement, two parties will offer service for the contract development and manufacture of antibody drug conjugates (ADCs), a growing niche in the development of biopharmaceuticals. The UK-based FUJIFILM Diosynth Biotechnologies is engaged into area of manufacturing of recombinant proteins, vaccines and monoclonal antibodies. The combined experience covers work on more than 150 biopharmaceuticals and over 300 batches of ADCs spanning over more than 30 different new chemical entities (NCEs), stated a release from Piramal Enterprises. Full Article
Piramal Enterprises Ltd Clarifies On Ind-Swift Laboratories Facilities In INR1000 Crore (INR10 Billion) Deal
Piramal Enterprises Ltd announced that with With reference to the news item appearing in a financial daily titled "Piramal eyes Ind-Swift facilities in INR1000 Crore (INR10 Billion) deal", Piramal Healthcare Ltd has clarified that as a fast growing Company, Piramal Enterprises Limited (Formerly known as Piramal Healthcare Ltd) explores various strategic initiatives from time to time. However, as a policy and in the interest of its shareholders, the Company does not comment on any report relating to potential strategic initiatives. Any comment by the Company on strategic initiatives that are preliminary in nature would otherwise be speculative. Full Article
Piramal Enterprises Ltd Eyes Ind-Swift Laboratories Facilities In INR1000 Crore Deal (INR 10 Billion)-Business Standard
Business Standard reported that Piramal Enterprises Ltd is in talks with the Chandigarh-headquartered Ind-Swift Laboratories to acquire its contract research and manufacturing business and many of its facilities approved by the US Food and Drugs Administration (US FDA), sources say. The deal, under negotiation, is valued at INR1,000-1,200 crore, at least two persons close to the development have told Business Standard. Full Article
Piramal Healthcare Ltd Unit And IBA Molecular Ink Pact For European, US Markets-The Economic Times
The Economic Times reported that Piramal Imaging SA, part of Piramal Enterprises Ltd, said it has entered into a pact with IBA Molecular for manufacture and distribution of its diagnostic imaging agent 18F-Florbetaben in the European and US markets. Under the agreement, IBA Molecular will be responsible for manufacturing and selling of 18F-Florbetaben, an agent used in detection of Alzheimer's disease and other neurologic conditions, in the two markets. Diagnostic imaging is a field of medicine used in determining physiology, managing disease, and locating abnormalities in the body. Full Article
India's Piramal Healthcare Ltd Plans To Raise INR5 Billion Via Commercial Papers-Reuters
Reuters reported that Indian drug maker Piramal Healthcare Ltd plans to raise INR5 billion ($90.46 million) through three-month commercial paper at 9.39%, a source with direct knowledge of the deal said. SPA Securities is the sole arranger to the deal. Full Article
UPDATE 1-TPG sells stake in India's Shriram Transport for $300 mln
MUMBAI, May 10 - U.S. private equity firm TPG Capital raised about $300 million by selling its roughly 10 percent stake in Indian commercial vehicle financier Shriram Transport Finance Co Ltd to India's Piramal Group, generating a near seven times return on a 2006 investment.
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