Piramal Healthcare is mulling a string of small-ticket acquisitions in the UK biotechnology sector, eyeing early-stage businesses in drug discovery, anaesthetics and contract manufacturing, said Ajay Piramal, head of the Indian pharmaceutical firm.
Piramal, whose company sold its generic drug business to Abbott Laboratories in 2010 for $3.7bn and also has access to debt facilities worth $2bn, told The Timesthat the planned takeovers in the UK and Europe are aimed at strengthening the firm’s drug research unit.
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