Nicholas Piramal buys Healthline's pharmaceuticals business

Nicholas Piramal India Ltd has signed an agreement to acquire the pharmaceuticals business of the Bangalore-based parenterals manufacturer, Healthline Pvt. Ltd (HLPL) for Rs15 crore.

Through this acquisition Nicholas Piramal will acquire HLPL's ingestible manufacturing unit at Bangalore, commissioned in 2994, for small and large volume injectible products. This facility has a capacity to produce 10 million vials per annum on a single shift basis.

Nicholas Piramal will invest additional resources at the facility to expand capacity and secure USFDA standards.

Ajay Piramal, chairman, Nicholas Piramal, said his company would expand its custom manufacturing offering to global customers. "HLPL is a good asset, which will expand our high-end manufacturing solutions from India."