Piramal Pharma's stock gets listed, post demerger

20 Oct 2022 , 06:28 AM

On Wednesday, Piramal Pharma’s stock got listed, post its demerger from Piramal Enterprises Ltd (PEL).

The demerger of the pharmaceuticals business and the streamlining of the corporate structure were agreed upon by PEL’s board of directors in October 2021, converting the company from a multi-sector conglomerate to two distinct sector-focused listed corporations in financial services and medicines.

PPL consists of three businesses: Piramal Critical Care (PCC), a Complex Hospital Generics business; Piramal Pharma Solutions (PPS), an integrated Contract Development and Manufacturing Organization (CDMO); and the India Consumer Healthcare business, which sells Over-The-Counter (OTC) goods.

Additionally, it has a joint venture with Allergan, a market leader in Indian formulations for ophthalmology.

Nandini Piramal, chairperson of PPL, told ET that moving forward, the Mumbai-based company plans to retain focus on expanding its chosen business lines and would find and seize chances for both inorganic and organic growth to consistently provide shareholder value.

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