The Piramal Group is an Indian multinational conglomerate that has presence across various sectors such as

healthcare Health care or healthcare is the improvement of health via the prevention, diagnosis, treatment, amelioration or cure of disease, illness, injury, and other physical and mental impairments in people. Health care is delivered by health profe ...

life sciences This list of life sciences comprises the branches of science that involve the scientific study of life – such as microorganisms, plants, and animals including human beings. This science is one of the two major branches of natural science, the ...

drug discovery In the fields of medicine, biotechnology and pharmacology, drug discovery is the process by which new candidate medications are discovered. Historically, drugs were discovered by identifying the active ingredient from traditional remedies or by ...

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

alternative investment An alternative investment, also known as an alternative asset or alternative investment fund (AIF), is an investment in any asset class excluding stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as ...

and real estate.

History

In the early 1980s,

Ajay Piramal Ajay Gopikisan Piramal CBE (born 3 August 1955) is an Indian billionaire industrialist, and the chairman of the Piramal Group, a conglomerate with interests in pharmaceutical, financial services, real estate, healthcare analytics and glass pac ...

took over the reins of Piramal Group. In 1984, the group acquired Gujarat Glass Limited, a manufacturer of glass packaging for pharmaceutical and

cosmetic Cosmetic may refer to: *Cosmetics, or make-up, substances to enhance the beauty of the human body, apart from simple cleaning *Cosmetic, an adjective describing beauty, aesthetics, or appearance, especially concerning the human body *Cosmetic, a t ...

products, followed by Ceylon Glass in 1999. 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 1999, Piramal Glass acquired Ceylon Company Limited, Sri Lanka. In 2006, the company bought Pfizer’s UK manufacturing facility in Morpeth. 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. In 2008, it signed a second drug development deal with

Eli Lilly and Company Eli Lilly and Company is an American pharmaceutical company headquartered in Indianapolis, Indiana, with offices in 18 countries. Its products are sold in approximately 125 countries. The company was founded in 1876 by, and named after, Colonel ...

. 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). It was considered to the "most expensive pharma deal ever" by

Forbes India ''Forbes India'' is the Indian edition of ''Forbes'' which is managed by Reliance Industries-owned media conglomerate, Network 18. History and profile Since its founding in 2008, ''Forbes India'' has achieved a circulation of 50,000 copies and ma ...

. Piramal Healthcare then sold its diagnostics chain Piramal Diagnostic Services to SRL for 600 crore. In the same year, the group formed its own real estate entity, Piramal Realty. 2011 saw

Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...

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. In 2014, it sold its 11% Stake in Vodafone India to Prime Metals, an indirect subsidiary of Vodafone Group. 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 Calamine, also known as calamine lotion, is a medication used to treat mild itchiness. This includes from sunburn, insect bites, poison ivy, poison oak, and other mild skin conditions. It may also help dry out skin irritation. It is applie ...

in India. Caladryl is an

anti-pruritic Antipruritics, abirritants, or anti-itch drugs, are medications that inhibit the itching (Latin: '' pruritus'') often associated with sunburns, allergic reactions, eczema, psoriasis, chickenpox, fungal infections, insect bites and stings like th ...

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. Piramal Imaging entered into a Strategic Partnership and Exclusive Licensing Agreement with Ci-Co Healthcare for Commercialization of

florbetaben F18 Florbetaben, a fluorine-18 (18F)-labeled stilbene derivative (formerly known as BAY-949172), trade name NeuraCeq, is a diagnostic radiotracer developed for routine clinical application to visualize β-amyloid plaques in the brain. It is indicat ...

. European Union’s CHMP recommends EU approval of Piramal Imaging’s radiopharmaceutical NeuraCeq (florbetaben 18F). In December 2020, Piramal Glass was sold to The Blackstone Group for 1 billion.

Group companies

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.

Piramal Enterprises

Piramal Enterprises Limited is the flagship company of Piramal Group, and active in

. 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. It also holds minority stakes in Shriram Group companies. In 2021, Piramal acquired the bankrupt Dewan Housing Finance Corporation and merged it with PCHFL. 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 Navi is an Indian financial services company founded by Sachin Bansal and Ankit Agarwal in 2018. Navi operates in the space of digital Loans, home loans, mutual funds, health insurance and micro-loans. It currently has $100 million in revenu ...

and KreditBee, and is also engaged in vehicle financing for partner companies like CARS24, CarDekho and Spinny. Apart from retail finance, it is also involved in corporate lending and real estate finance. 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. Piramal Capital Fund (PCF), a partnership between Piramal Enterprises and CDPQ that was started in 2020, provides

corporate financing A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and r ...

services. Both IndiaRF and PCF are managed by Piramal Alternatives, an asset management company set up by Piramal Enterprises in 2021.

Piramal Pharma

Piramal Pharma Limited is active in business verticals including

pharmaceuticals A medication (also called medicament, medicine, pharmaceutical drug, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy (pharmacotherapy) is an important part of the medical field and rel ...

and

. Its business divisions include Piramal Pharma Solutions, a

contract development and manufacturing organization A contract manufacturing organization (CMO), more recently referred to (and more commonly used now) as a contract development and manufacturing organization (CDMO) to avoid the acronym confusion of Chief Medical Officer or Clinical Monitoring Organ ...

; Piramal Critical Care, a manufacturer of inhalational anesthetics and other hospital

generics Generic or generics may refer to: In business * Generic term, a common name used for a range or class of similar things not protected by trademark * Generic brand, a brand for a product that does not have an associated brand or trademark, other ...

; and Piramal Consumer Products Division, an over-the-counter consumer healthcare products business. Piramal Pharma Limited was demerged from Piramal Enterprises in 2022. Piramal Pharma's subsidiaries include Hemmo Pharmaceuticals and Convergence Chemicals. It also has a joint venture with Allergan in the ophthalmology products segment.

Piramal Realty

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 South is one of the cardinal directions or Points of the compass, compass points. The direction is the opposite of north and is perpendicular to both east and west. Etymology The word ''south'' comes from Old English ''sūþ'', from earlier Pro ...

Mumbai.

Piramal Foundation

The

Piramal Foundation Piramal Foundation is the philanthropic arm of Piramal Group. The foundation undertakes projects under the four broad areas – healthcare, education, livelihood creation and youth empowerment. These projects are rolled out in partnership with ...

is a private philanthropic foundation established in 2006. Piramal Foundation has undertaken projects like Piramal Swasthya (a health information help line service called Arogya Vani in the state of Karnataka), Sarvajal (provides clean water in India through solar powered water ATMs), source for change (rural BPO for rural youth in Bagar, Rajasthan), Pratham (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 (recognizes emerging ventures and established organizations).

References

External links

* {{Nifty 200 companies Health care companies of India Holding companies of India Real estate companies of India Companies based in Mumbai Indian companies established in 1984 Conglomerate companies established in 1984 Holding companies established in 1984 Real estate companies established in 1984 Warburg Pincus companies Piramal Group 1984 establishments in Maharashtra