Piramal Pharma Solutions is a contract development and manufacturing organisation, which provides services including drug discovery and commercial production to other healthcare firms
Ajay Piramal, chairman of Piramal Enterprises, indicated a few months ago that the firm was exploring a possible re-entry into the domestic formulations market
Though the corpus was to be deployed in three years time, sources said the partners expected it to be depleted by June, one-and-a-half-years after its launch
The company aim to be a significant player in the healthcare segment and this acquisitions is an important route for the same
Previously, Piramal had also invested Rs 140 crore towards AIPL Peaceful Homes
The move to consider buying the 2 stressed firms comes after lenders' appeal