 | |
| Company type | Conglomerate |
|---|---|
| Founded | 1984 |
| Headquarters | Mumbai, Maharashtra, India |
Area served | Worldwide |
Key people |
|
| Services | |
| Revenue |  ₹14,710 crore (US$1.8 billion) (FY22) |
 ₹6,500 crore (US$810 million) (FY22) | |
| ₹1,923.11 crore (US$240 million) (FY22) | |
| Subsidiaries |
|
| Website | www |
The Piramal Group is an Indian multinational conglomerate that has presence across various sectors such as healthcare, life sciences, drug discovery, financial services, alternative investment and real estate.
In the early 1980s, Ajay Piramal took over the reins of Piramal Group. In 1984, the group acquired Gujarat Glass Limited (later renamed as Piramal Glass), a manufacturer of glass packaging for pharmaceutical and cosmetic products.[ citation needed ]
In 1988, the group bought Nicholas Laboratories, which later flourished and by 2010 reached the highest valuation in the pharmaceutical industry. Over the decade, the company acquired many business units to strengthen their presence.
In November 1993, Swiss drug multinational Hoffmann-La Roche sold its Indian subsidiary, Roche Products (India) Ltd to Piramal Enterprises, including its assets like the Vitamin-A producing Fine Chemicals Plant in Balkum, Thane. Roche Products was later renamed Piramal Healthcare Ltd.
In 1999, Piramal Glass acquired Ceylon Glass Company Limited, Sri Lanka. [1]
In 2006, the company bought Pfizer’s UK manufacturing facility in Morpeth. [2] [3] The company also formed the Piramal Foundation, a philanthropic arm of the group.
In 2007, it underwent a deal with Merck Pharmaceuticals for development and discovery of new drugs. [4] [5] In 2008, it signed a second drug development deal with Eli Lilly and Company. [6] [7] The company Nicholas Laboratories was renamed to Piramal Healthcare Ltd.
In 2010, Piramal Healthcare sold its domestic formulations business to Abbott for $3.72 billion (about ₹18,000 crore). [8] It was considered to the "most expensive pharma deal ever" by Forbes India. [9] Piramal Healthcare then sold its diagnostics chain Piramal Diagnostic Services to SRL for ₹600 crore. [10] In the same year, the group formed its own real estate entity, Piramal Realty. [11]
2011 saw Fortune 500 ranking Piramal Healthcare in the top-50 largest corporations across India. UN Conference on Trade and Development’s World Investment Report 2011 ranked Piramal Healthcare as No. 5 in the top 10 pharmaceutical contract manufacturers worldwide. In 2011–12, Piramal bought 11% in Vodafone Essar. [12] In 2014, it sold its 11% Stake in Vodafone India to Prime Metals, an indirect subsidiary of Vodafone Group. [13] In 2012, Piramal Healthcare was renamed to Piramal Enterprises Ltd. BST-CarGel, Piramal's innovative bio-orthopaedic product for cartilage repair, received European CE mark approval. Piramal's Decision Resources Group acquired Abacus International, a UK based company.
Piramal Enterprises acquired the brand Caladryl in India. Caladryl is an anti-pruritic solution known for dermatosis application for minor skin irritations and itching. This acquisition enabled Piramal Enterprises to widen its consumer products portfolio in the skin care segment. [14]
Piramal Imaging entered into a Strategic Partnership and Exclusive Licensing Agreement with Ci-Co Healthcare for Commercialization of florbetaben F18. [15]
European Union’s CHMP recommends EU approval of Piramal Imaging’s radiopharmaceutical NeuraCeq (florbetaben 18F). [16]
In December 2020, Piramal Glass was sold to The Blackstone Group for US$1 billion. [17]
The Piramal Group comprises 3 key companies: Piramal Enterprises Ltd, Piramal Pharma Ltd and Piramal Realty. Piramal Enterprises and Piramal Pharma are listed at both Bombay Stock Exchange and National Stock Exchange. [18]
Piramal Enterprises Limited is the flagship company of Piramal Group, and active in financial services. Piramal Enterprises is involved in retail lending, housing finance and vehicle financing. It has two main subsidiaries viz., Piramal Capital & Housing Finance (PCHFL) and PHL Fininvest. [19] It also holds minority stakes in Shriram Group companies. [20]
In 2021, Piramal acquired the bankrupt Dewan Housing Finance Corporation and merged it with PCHFL. [21] PCHFL's retail finance division provides microlending and buy now, pay later services on behalf of partner fintech companies like ZestMoney, Moneyview, EarlySalary, Navi Group and KreditBee, and is also engaged in vehicle financing for partner companies like CARS24, CarDekho and Spinny. [22] Apart from retail finance, it is also involved in corporate lending and real estate finance. [23]
Since 2016, Piramal Enterprises and Bain Capital Credit have been operating a partnership called India Resurgence Fund (IndiaRF), an investment fund for financially distressed Indian companies. [24] Piramal Capital Fund (PCF), a partnership between Piramal Enterprises and CDPQ that was started in 2020, provides corporate financing services. [25] Both IndiaRF and PCF are managed by Piramal Alternatives, an asset management company set up by Piramal Enterprises in 2021. [26]
Piramal Pharma Limited is active in business verticals including pharmaceuticals, healthcare and life sciences. Its business divisions include Piramal Pharma Solutions, a contract development and manufacturing organization; Piramal Critical Care, a manufacturer of inhalational anesthetics and other hospital generics; and Piramal Consumer Products Division, an over-the-counter consumer healthcare products business. [27] Piramal Pharma Limited was demerged from Piramal Enterprises in 2022. [28]
Piramal Pharma's subsidiaries include Hemmo Pharmaceuticals [29] and Convergence Chemicals. [30] It also has a joint venture with Allergan in the ophthalmology products segment. [31]
Piramal Realty is a fully owned real estate venture of Piramal Group. The company is planning to develop about 30 million square feet through land acquisitions from its own sources. The group developed a mall in, Cross Roads, at South Mumbai. [32]
The Piramal Foundation is a private philanthropic foundation established in 2006. Piramal Foundation has undertaken projects like Piramal Swasthya [33] (a health information help line service called Arogya Vani in the state of Karnataka), Sarvajal [34] (provides clean water in India through solar powered water ATMs), source for change [35] (rural BPO for rural youth in Bagar, Rajasthan), Pratham [36] (delivers education to under privileged children), Piramal foundation for education leadership (Piramal Fellowship and Principal Leadership Development program (PLDP) are the two programs undertaken) and Piramal Prize [37] (recognizes emerging ventures and established organizations).
Cipla Limited is an Indian multinational pharmaceutical company headquartered in Mumbai. Cipla primarily focuses on developing medication to treat respiratory disease, cardiovascular disease, arthritis, diabetes, depression, and various other medical conditions. Cipla has 47 manufacturing locations across the world and sells its products in 86 countries. It is the third-largest drug producer in India.
Ajay Gopikisan Piramal is an Indian billionaire businessman, and the chairman of the Piramal Group, a conglomerate with interests in pharmaceutical, financial services, real estate, healthcare analytics and glass packaging. As of September 2022, his net worth was estimated at US$3 billion.
Meiji Seika Pharma Co., Ltd., formerly Meiji Seika Kaisha, Ltd. is a Japanese pharmaceutical company. It is currently a subsidiary of Meiji Holdings and a Japanese leader in the area of infectious disease with 18% market share. It markets treatments for depression, obsessive-compulsive disorder, vaccines and allergy drugs. Meiji Pharma is doing research in generic anticancer drugs and biosimilars with partner organisations.
Dr. Reddy's Laboratories is an Indian multinational pharmaceutical company based in Hyderabad. The company was founded by Kallam Anji Reddy, who previously worked in the mentor institute Indian Drugs and Pharmaceuticals Limited. Dr. Reddy manufactures and markets a wide range of pharmaceuticals in India and overseas. The company produces over 190 medications, 60 active pharmaceutical ingredients (APIs) for drug manufacture, diagnostic kits, critical care, and biotechnology.
Fresenius SE & Co. KGaA is a European multinational health care company based in Bad Homburg vor der Höhe, Germany. It provides products and services for dialysis in hospitals, as well as inpatient and outpatient medical care. The company is involved in hospital management and in engineering and services for medical centers and other health care facilities.
Perrigo Company plc is an American Irish-registered manufacturer of private label over-the-counter pharmaceuticals, and while 70% of Perrigo's net sales are from the U.S. healthcare system, Perrigo is legally headquartered in Ireland for tax purposes, which accounts for 0.60% of net sales. In 2013, Perrigo completed the sixth-largest US corporate tax inversion in history when it reregistered its tax status to Ireland to avoid U.S. corporate taxes. Perrigo maintains its corporate headquarters in Grand Rapids, Michigan, within Michigan State University's Grand Rapids Innovation Park.
The pharmaceutical industry in India was valued at an estimated US$42 billion in 2021 and is estimated to reach $130 billion by 2030. India is the world's largest provider of generic medicines by volume, with a 20% share of total global pharmaceutical exports. It is also the largest vaccine supplier in the world by volume, accounting for more than 60% of all vaccines manufactured in the world. Indian pharmaceutical products are exported to various regulated markets including the US, UK, European Union and Canada.
Teva Pharmaceutical Industries Ltd. is an Israeli multinational pharmaceutical company. Teva specializes primarily in generic drugs, but other business interests include branded-drugs, active pharmaceutical ingredients (API's) and, to a lesser extent, contract manufacturing services and an out-licensing platform.
Bharti Enterprises Limited is an Indian multinational conglomerate, headquartered in Delhi. It was founded in 1976 by Sunil Bharti Mittal. Bharti Enterprises owns businesses spanning across telecommunications, manufacturing, insurance, real estate, hospitality, and food. The group's flagship company, Bharti Airtel, is a telecom service provider with operations in more than 18 countries across Asia, Africa and Europe. The company ranks amongst the top two mobile network operators globally by number of subscribers.
Sun Pharmaceutical Industries Limited is an Indian multinational pharmaceutical company headquartered in Mumbai, that manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) in more than 100 countries across the globe. It is the largest pharmaceutical company in India and the fourth largest specialty generic pharmaceutical company in the world. The products cater to a vast range of therapeutic segments covering psychiatry, anti-infectives, neurology, cardiology, diabetology, gastroenterology, ophthalmology, nephrology, urology, dermatology, gynecology, respiratory, oncology, dental and nutritionals.
Stada Arzneimittel AG is a pharmaceutical company based in Bad Vilbel, Germany which specializes on a three-pillar strategy consisting of consumer healthcare products, generics and specialty pharma. Worldwide, STADA Arzneimittel AG sells its products in approximately 120 countries. In 2022, revenue totaled €3.79 billion.
Wockhardt is an Indian pharmaceutical and biotechnology company headquartered in Mumbai, India. It produces formulations, biopharmaceuticals, nutrition products, vaccines and active pharmaceutical ingredients (APIs). The company has manufacturing plants in India, UK, Ireland, France and US, and subsidiaries in US, UK, Ireland and France.
Sumitomo Pharma Co., Ltd. is a pharmaceutical company based in Japan. Its headquarters are in Chuo-ku, Osaka.
Lupin Limited is an Indian multinational pharmaceutical company based in Mumbai. It is one of the largest generic pharmaceutical companies by revenue globally. The company's key focus areas include paediatrics, cardiovascular, anti-infectives, diabetology, asthma and anti-tuberculosis.
Intas Pharmaceuticals Limited is an Indian multinational pharmaceutical company headquartered in Ahmedabad. It is a producer of generic therapeutic drugs and engaged in contract clinical research and manufacturing. It has 22 manufacturing plants, 17 in India and the rest in Greece, United Kingdom and Mexico. In the financial year 2019, 69% of the company's revenue came from international markets while 31% came from India.
Dishman Carbogen Amcis Ltd is an Indian multinational pharmaceutical company specialized in the manufacture of active ingredients and contract development and manufacturing. Dishman employs over 1,000 people worldwide and is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE).
PGP Glass is an Indian glass packaging company providing packaging for pharmaceutical and perfume industries.
Mankind Pharma is an Indian pharmaceutical and healthcare products company, headquartered in Delhi. The company has products in therapeutic areas ranging from antibiotics, to gastrointestinal, cardiovascular, dermal, and erectile dysfunction medications.
Alembic Pharmaceuticals Ltd. is an Indian multinational pharmaceutical company headquartered in Vadodara. It is involved in manufacture of pharmaceutical products, pharmaceutical substances and intermediates. It is also termed to be a market leader in macrolides segment of anti-infective drugs in India.
Omnicell, Inc. is an American multinational healthcare technology company headquartered in Fort Worth, Texas. It manufactures automated systems for medication management in hospitals and other healthcare settings, and medication adherence packaging and patient engagement software used by retail pharmacies. Its products are sold under the brand names Omnicell and EnlivenHealth.
