Piramal Life Sciences, the newly hived off research and development business of Piramal Group has begun a new innings on May 29 by listing on bourses. On the opening day the stock lost 16 per cent even as Piramal promised big growth to his stakeholders. The company plans to invest Rs 400-500 crore over two years aiming for revenue of over Rs 1,200 - Rs 1,500 crore by 2010. The company''s research pipeline comprises 14 molecules of which 6 are in clinical trials targeting its first drug launch by 2010.
Piramal is already in talks with potential investors including MNC pharma & financial investors for a strategic stake sale in his new R&D arm. Clearly, Piramal knows research is long haul business with high risks but it is his expectations on irresistible returns that has kept him on track.
Piramal is already in talks with potential investors including MNC pharma & financial investors for a strategic stake sale in his new R&D arm. Clearly, Piramal knows research is long haul business with high risks but it is his expectations on irresistible returns that has kept him on track.
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