Piramal Healthcare to invest in China
Pirmal Healthcare has said it will invest in manufacturing facilities in China and is looking for acquisitions. “We are looking at investing in manufacturing facilities in China that are good in large chemicals. We are continously looking for acquisitions,” Piramal Healthcare Chairman, Ajay Piramal told shareholders at the company’s annual general meeting here. The investment may be into a contract research manufacturing facility, he said. Piramal Healthcare, formerly Nicholas Piramal, has a sourcing office in Shanghai. Piramal, however, declined to give investment details. For this financial year, he said, the company’s topline would grow at 16 per cent. “The bottomline should grow faster than topline,” Piramal said. The company’s facility in Baddi, Himachal Pradesh, has a capacity utilisation of 60 per cent, he said. Piramal Healthcare has a presence in 80 per cent of the therapeutic areas, he added.
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