ThePiramal Groupis an Indian multinational conglomerate that has presence across various sectors such ashealthcare,life sciences,drug discovery,financial services,alternative investmentandreal estate.
 | |
| Company type | Conglomerate |
|---|---|
| Founded | 1984 |
| Headquarters | Mumbai,Maharashtra,India |
Area served | Worldwide |
Key people |
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| Services | |
| Revenue |  ₹14,710 crore(US$1.8 billion) (FY22) |
 ₹6,500 crore(US$780 million) (FY22) | |
| ₹1,923.11 crore(US$230 million) (FY22) | |
| Subsidiaries |
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| Website | www |
History
editIn the early 1980s,Ajay Piramaltook over the reins of Piramal Group. In 1984, the group acquiredGujarat Glass Limited(later renamed as Piramal Glass), a manufacturer of glass packaging forpharmaceuticalandcosmeticproducts.[citation needed]
In 1988, the group bought Nicholas Laboratories, which later flourished and by 2010 reached the highest valuation in thepharmaceutical industry.Over the decade, the company acquired many business units to strengthen their presence.
In November 1993, Swiss drug multinational Hoffmann-La Roche sold its Indian subsidiary, Roche Products (India) Ltd to Piramal Enterprises, including its assets like the Vitamin-A producing Fine Chemicals Plant in Balkum, Thane. Roche Products was later renamed Piramal Healthcare Ltd.
In 1999, Piramal Glass acquired Ceylon Glass Company Limited, Sri Lanka.[1]
In 2006, the company boughtPfizer’s UK manufacturing facility inMorpeth.[2][3]The company also formed the Piramal Foundation, a philanthropic arm of the group.
In 2007, it underwent a deal withMerck Pharmaceuticalsfor development and discovery of new drugs.[4][5] In 2008, it signed a second drug development deal withEli Lilly and Company.[6][7] The company Nicholas Laboratories was renamed to Piramal Healthcare Ltd.
In 2010, Piramal Healthcare sold its domestic formulations business to Abbott for $3.72 billion (about₹18,000 crore).[8]It was considered to the "most expensive pharma deal ever" byForbes India.[9]Piramal Healthcare then sold its diagnostics chain Piramal Diagnostic Services toSRLfor₹600 crore.[10]In the same year, the group formed its own real estate entity, Piramal Realty.[11]
2011 sawFortune 500ranking Piramal Healthcare in the top-50 largest corporations across India. UN Conference on Trade and Development’s World Investment Report 2011 ranked Piramal Healthcare as No. 5 in the top 10 pharmaceutical contract manufacturers worldwide. In 2011–12, Piramal bought 11% in Vodafone Essar.[12]In 2014, it sold its 11% Stake inVodafone Indiato Prime Metals, an indirect subsidiary ofVodafone Group.[13]In 2012, Piramal Healthcare was renamed toPiramal Enterprises Ltd. BST-CarGel, Piramal's innovative bio-orthopaedic product for cartilage repair, received European CE mark approval. Piramal's Decision Resources Group acquired Abacus International, a UK based company.
Piramal Enterprises acquired the brandCaladrylin India. Caladryl is ananti-pruriticsolution known for dermatosis application for minor skin irritations and itching. This acquisition enabled Piramal Enterprises to widen its consumer products portfolio in the skin care segment.[14]
Piramal Imaging entered into a Strategic Partnership and Exclusive Licensing Agreement with Ci-Co Healthcare for Commercialization offlorbetaben F18.[15]
European Union’s CHMP recommends EU approval of Piramal Imaging’s radiopharmaceutical NeuraCeq (florbetaben 18F).[16]
In December 2020, Piramal Glass was sold toThe Blackstone GroupforUS$1 billion.[17]
Group companies
editThe Piramal Group comprises 3 key companies: Piramal Enterprises Ltd, Piramal Pharma Ltd and Piramal Realty. Piramal Enterprises and Piramal Pharma are listed at bothBombay Stock ExchangeandNational Stock Exchange.[18]
Piramal Enterprises
editPiramal Enterprises Limited is the flagship company of Piramal Group, and active infinancial services.Piramal Enterprises is involved in retail lending, housing finance and vehicle financing. It has two main subsidiaries viz., Piramal Capital & Housing Finance (PCHFL) and PHL Fininvest.[19]It also holds minority stakes inShriram Groupcompanies.[20]
In 2021, Piramal acquired the bankruptDewan Housing Finance Corporationand merged it with PCHFL.[21]PCHFL's retail finance division providesmicrolendingandbuy now, pay laterservices on behalf of partnerfintechcompanies like ZestMoney,Moneyview,EarlySalary,Navi Groupand KreditBee, and is also engaged invehicle financingfor partner companies likeCARS24,CarDekho and Spinny.[22]Apart from retail finance, it is also involved in corporate lending and real estate finance.[23]
Since 2016, Piramal Enterprises andBain Capital Credithave been operating a partnership called India Resurgence Fund (IndiaRF), aninvestment fundforfinancially distressedIndian companies.[24]Piramal Capital Fund (PCF), a partnership between Piramal Enterprises andCDPQthat was started in 2020, providescorporate financingservices.[25]Both IndiaRF and PCF are managed by Piramal Alternatives, anasset management companyset up by Piramal Enterprises in 2021.[26]
Piramal Pharma
editPiramal Pharma Limited is active in business verticals includingpharmaceuticals,healthcareandlife sciences.Its business divisions include Piramal Pharma Solutions, acontract development and manufacturing organization;Piramal Critical Care, a manufacturer ofinhalational anestheticsand other hospitalgenerics;and Piramal Consumer Products Division, anover-the-counterconsumer healthcare products business.[27]Piramal Pharma Limited was demerged from Piramal Enterprises in 2022.[28]
Piramal Pharma's subsidiaries include Hemmo Pharmaceuticals[29]and Convergence Chemicals.[30]It also has a joint venture withAllerganin theophthalmologyproducts segment.[31]
Piramal Realty
editPiramal Realtyis a fully owned real estate venture of Piramal Group. The company is planning to develop about 30 million square feet through land acquisitions from its own sources. The group developed a mall in,Cross Roads,atSouthMumbai.[32]
Piramal Foundation
editThePiramal Foundationis a privatephilanthropicfoundation established in 2006. Piramal Foundation has undertaken projects like Piramal Swasthya[33](a health information help line service called Arogya Vani in the state of Karnataka), Sarvajal[34](provides clean water in India through solar powered water ATMs), source for change[35](rural BPO for rural youth in Bagar, Rajasthan), Pratham[36](delivers education to under privileged children), Piramal foundation for education leadership (Piramal Fellowship and Principal Leadership Development program (PLDP) are the two programs undertaken) and Piramal Prize[37](recognizes emerging ventures and established organizations).
See also
editReferences
edit- ^"Piramal – The leader in the manufacture of pharmaceuticals and glass containers".Retrieved12 October2020.
- ^"Nicholas Piramal to buy Pfizer's Morpeth, UK facility".Business Standard. 15 June 2006.
- ^"Nicholas Piramal to buy Pfizer's UK unit".The Times of India.15 June 2006. Archived fromthe originalon 4 September 2013.
- ^"Nicholas Piramal, Merck in new drug discovery JV".Economic Times. 19 November 2007. Archived fromthe originalon 5 March 2016.
- ^"Nicholas Piramal, Merck enter R&D collaboration".Indian Express. 19 November 2007.
- ^"Nicholas Piramal arm signs 2nd drug development deal with Eli Lilly".Economic Times. 15 February 2008. Archived fromthe originalon 5 March 2016.
- ^"Nicholas Piramal, Eli Lilly in drug development deal".Financial Express. 13 January 2007.
- ^"Abbott acquires Piramal's healthcare unit".Economic Times. 21 May 2010. Archived fromthe originalon 4 March 2011.
- ^"The most Expensive Pharma Deal ever".Forbes India.7 June 2010.
- ^"Piramal Healthcare completes sale of diagnostics arm to SRL".Business Standard India.21 August 2010.Retrieved19 December2022.
- ^https:// piramalrealty /Piramal Realty
- ^"Piramal hikes stake to 11% in Vodafone India unit".The Financial Express. 5 February 2012.
- ^"Piramal Group to sell Vodafone India stake for Rs. 8900 crore".IANS.news.biharprabha.Retrieved10 April2014.
- ^"Piramal Enterprises acquires brand Caladryl in India".Times Of India. 1 November 2013.
- ^"Piramal Imaging enters into a strategic partnership with Ci-Co Healthcare".Express Healthcare. 10 December 2013.
- ^"CHMP recommends EU approval of Piramal Imaging's NeuraCeq".IIFL. 21 December 2013.
- ^"Blackstone to buy Piramal Glass for $1 billion".The Hindu Business Line.11 December 2020.Retrieved16 November2022.
- ^"Piramal Enterprises Yearly Results, Financial summary, Piramal Enterprises Yearly Earnings – The Economic Times".economictimes.indiatimes.Retrieved28 June2019.
- ^"PHL Fininvest Private Limited".ICRA.Retrieved16 November2022.
- ^Karthik, Hamsini (4 September 2022)."Eyeing bank license, Piramal firms up on exiting Shriram group".The Hindu Businessline.Retrieved16 November2022.
- ^"Piramal pays lenders for DHFL acquisition".The Hindu Business Line.Retrieved6 September2022.
- ^"Lending Partners".Piramal Finance.Retrieved16 November2022.
- ^"Piramal Enterprises posts net loss of Rs 1,536 cr on higher provisions".Business Standard.Retrieved16 November2022.
- ^"Ajay Piramal ties up with Bain Capital for a $750 mn-$1 bn distressed debt fund".The Economic Times.Retrieved17 November2022.
- ^Nandy, Madhurima (6 February 2020)."Piramal, CDPQ form $300-mn credit vehicle".mint.Retrieved17 November2022.
- ^"Piramal Enterprises sets up AMC with assets worth Rs 11,000 crore".Business Standard.Retrieved17 November2022.
- ^"Ajay Piramal begins 2nd innings in pharma".Fortune.Retrieved16 November2022.
- ^Narayanan, K. S. Badri (30 August 2022)."Piramal NBFC arm lists after demerger".thehindubusinessline.Retrieved6 September2022.
- ^"Piramal Pharma completes acquisition of Hemmo Pharmaceuticals".The Economic Times.Retrieved17 November2022.
- ^"Piramal Enterprises climbs 2.5% after subsidiary completes full acquisition of Convergence Chemicals".India Infoline.Retrieved17 November2022.
- ^"Allergan-Piramal JV plant to manufacture ophthalmic bulk drugs".Pharmabiz.Retrieved17 November2022.
- ^"Piramal Realty a company of Piramal Group, Introduces Welltech Homes in Byculla Mumbai".Rashtranews.17 February 2022.Retrieved18 February2022.
- ^"Piramal Foundation's project to provide telemedicine solution in Maharashtra".The Times of India.15 March 2013.Archivedfrom the original on 2 December 2013.
- ^"Let's drink to that".Business Today. 19 August 2012.
- ^"Source For Change: India's 1st All Women Rural BPO".The Better India. 13 September 2010.
- ^"Citi, Pratham Foundation to build job skills in youth".Business Line. 21 September 2012.
- ^"Piramal Prize — Help Democratize Healthcare".Think Change India. 25 February 2008.
