In May, U.S.-based Abbott Labs secured the top spot in India’s growing pharmaceutical industry with its US$ billion takeover of Piramal. In , Ajay Piramal promoted Piramal Healthcare sold off its main formulation business to Abbott India for over INR 17, crore and announced a buy-back of . When US-based global health care major Abbott acquired the formulations business of Piramal Healthcare in a $billion deal in , it had.
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After studying law I vectored towards journalism by accident and it’s the only job I’ve done since. It’s a job that has taken me on a private jet to Jaisalmer – where I wrote India’s first feature on fractional ownership of business jets – to the badlands of west UP where India’s sugar economy is inextricably now tied to politics. I’m a big fan of new business models and crafty entrepreneurs.
Fortunately for me, there are plenty of those in Asia at the moment. Would they be able to maintain a decent rate of return for their shareholders or would the cash be squandered on ventures that would eventually prove unprofitable. More than one voice suggested the company return a part of the cash to its shareholders.
Seven years after Piramal deal, Abbott way off revenue target | Business Standard News
Zbbott years on, it would be fair to say that Piramal Enterprises has been an efficient user of the money it received. At a press conference to announce its quarterly and annual results for the financial year ended March 31,Ajay Piramal was in an upbeat mood. He also acknowledged that the company had become a conglomerate and the structure made Piramal Enterprises difficult to understand.
In the years sincePirmal Enterprises wbbott proved adept at taking advantage of opportunities for its cash. It exited the investment in April with a 52 percent gain.
Ajay Piramal has also taken over as chairman of Shriram Capital. In MayPiramal bought a 9.
Seven years after Piramal deal, Abbott way off revenue target
The property lending business through Piramal Fund Management has seen its book bulge to Rs 8, crore. In addition, a tie-up with the Canadian Pension Plan has seen it invest their money in residential real estate in India. Piramal sees his next big abbtot in distressed assets. He finds himself in an enviable position of sitting on capital at a time when the economy is going through some stress.
The fund will not be restricted to any specific asset class but it would be fair to say that stressed sectors like steel, roads and real estate would find their way in the fund.
It has all the makings of a billion dollar enterprise for Piramal Enterprises. Does Piramal Enterprise enter in to infrastructure business where our Prime minister is soo much focusing abbottt Indian growth.
Abbott To Acquire Piramal Healthcare Unit For $3.72B
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Abbott To Acquire Piramal Healthcare Unit For $B | VCCircle
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