Indoco acquires Piramal’s clinical research division

This facility is spread across an area of 30,000 sq ft and is equipped with a 98-bed facility

Indoco Remedies has signed a definitive agreement to acquire Piramal Clinical Research (PCL), a Hyderabad based Clinical Research Division (CRO) of Piramal Enterprises, on a going concern basis. This is an all cash-deal funded with internal accruals.

The CRO specialises in conducting bio-equivalence and bio-analytical studies for generic products. This facility is spread across an area of 30,000 sq ft and is equipped with a 98-bed facility, monitoring stations, phlebotomy stations, four-bed ICU, state-of-the-art analytical lab and capabilities of eCTD submission.

“We are happy to have the CRO division of Piramals as part of Indoco. This acquisition will expand the depth of our services to customers in India as well as across the globe and would reduce our dependability to outsource bio-equivalence studies. The CRO would be a perfect fit to our existing R&D efforts, including facilitation of ANDA/Dossier filings”, said Aditi Kare Panandikar, Managing Director of Indoco Remedies.

The CRO initially established under the name Wellquest in 2001 in Mumbai and later shifted to Hyderabad in 2007, has regulatory approvals from several bodies including US FDA and was the first CRO from India to receive GCP certification from UK MHRA.

EP News BureauMumbai