Nicholas Piramal India completed the acquisition process of Pfizer Inc at Morpeth, UK
Media Release
Jun. 21, 2006

Nicholas Piramal India Ltd on Tuesday said it has completed the acquisition process of Pfizer Inc at Morpeth, UK, on an asset purchase basis for an undisclosed amount.

The acquisition was completed as per the schedule on June 19, the company informed the Bombay Stock Exchange.

The deal includes a supply agreement till November 2011 totaling potential revenues of above US$350 million, site fixed assets and property and certain net current assets, it said adding, the transaction is on a liability and cash free basis.

The acquisition is the third by Nicholas Piramal after acquiring Rhodia's inhalation anaesthetics business in December 2004 and Avecia's custom manufacturing business in December 2005.

The Morpeth unit is one of Pfizer's global, integrated facitities with end-to-end production and supply chain capabilities that cover Active Pharmaceutical Ingredients, finished dosage, packaging and distribution, it said. The purchase by the company's subsidiary, NPIL Pharmaceuticals, would expand its global footprint, particularly in the finished Active Pharmaceutical Ingredient, contained finished dosage, packaging and supply chain areas, it added.

Nicholas Piramal India completed the acquisition process of Pfizer Inc at Morpeth, UK
Media Release
completed the acquisition process of Pfizer Inc at Morpeth, UK
READ MORE>>

Sensex finally settled with a gain of 218 points at 10,040; Dr.Reddy's zooms 7%
Media Release
Heavy buying in select heavyweights towards the close saw the index soar to a high of 10,054 - up 301 points from the day's low. The index finally settled with a gain of 218 points at 10,040.
READ MORE>>

Acer India has announced a tie-up with Bajaj Finance to provide consumers across India with a six-month EMI and zero per cent interest option
Media Release
Acer India has announced a tie-up with Bajaj Finance to provide consumers across India with a six-month EMI and zero per cent interest option on Acer's entire range of notebooks and desktops.
READ MORE>>

A slew of investment proposals in West Bengal, starting from agri-retail chain to petrochemicals, are likely to be discussed when Mukesh Ambani meets West Bengal CM
Media Release
Reliance Industries had approached the West Bengal government with a substantial investment proposal as part of its nation-wide mega agricultural retail plan, which is tipped to be an answer to Wal-Mart.
READ MORE>>

Prime Minister Manmohan Singh laid the foundation of the ambitious Rs 19,500-crore Mumbai metro rail project
Media Release
Prime Minister Manmohan Singh laid the foundation of the ambitious Rs 19,500-crore Mumbai metro rail project, which authorities hope will help ease traffic flow within the metropolis. The first phase is expected to be fully functional by 2011.
READ MORE>>

Jet wants to renegotiate the deal for a 40 per cent price cut
Media Release
As the deadline for the expiry of the Jet-Sahara deal escrow account closes in, a new twist has emerged in the Rs 23,000 cr deal. Jet Airways has filed a caveat in the Bombay High Court while Air Sahara is to move the Lucknow HC.
READ MORE>>

MORE ARTICLES >>