History of Piramal Healthcare Ltd.
1947
- The Comp. was incorporated on 26th April, under the name of Indian Schering, Ltd., U.K. as a subsidiary of British Schering, Ltd.
1957
- E. Griffiths Hughes, limited of which British Schering, Ltd., U.K. was a subsidiary was taken over by Aspro-Nicholas, Ltd., U.K. Since then, the principal owners of Comp. belonged to the Nicholas Group of Companies whose ultimate holding company, Nicholas International, Ltd., Melbourne, Australia, are well known for their registered trade marks 'Aspro', 'Asmapax', 'Albucid', 'Olycrol', 'Neutradonna', etc.
1978
- 5,000 Bonus Equity shares issued in prop. 5:1 on 30.6.1967.
1979
- Nicholas of India, limited transferred to the Comp. the business and undertaking of its Indian branch as a going concern with effect from 1st July. The name of Comp. was changed from Indian Schering, limited to Nicholas Laboratories India, Ltd., with effect from 27th September.
- The non-resident holding in the Comp. was reduced to 39.59% after the issue & allotment of shares to the public during November.
- Shares subdivided on 28.8.1979. 6,00,000 Bonus shares of Rs 10 each issued in prop. 10:1 on 4.10.1979. 8,03,600 shares of Rs 10 each then issued [pre. Re.1 per shares]: 25,000 shares reserved & allotted to the existing Indian shareholders as rights; 5,12,200 shares reserved and allotted to financial institutions [2,62,200 shares to UTI and 1,25,000 shares each to LIC & GICs]; 40,000 shares reserved for allotment to employees, etc. of Comp. & 2,26,400 shares offered to the public in November 1979.
1984
- The Comp. issued 15% non-convertible debentures of aggregate value of Rs 50 lakhs on a private placement basis. These debentures are redeemable at a premium of 5% at the end of 7th year from the date of allotment viz., 24th June, 1985.
1988
- The Pharmaceutical division of Comp. introduced another medicine called `Mono Sorbitrate' for cardiac patients.
- During July-August, Aspro Nicholas PLC, U.K., voluntarily diluted all its shareholding of 5,84,760 No. of equity shares of Rs 10 each by an offer for sale at a premium of Rs 35 per share. Out of this, 3,62,177 shares were sold to Swastik Safe Deposit and Investments, limited Out of the remaining 2,22,583 shares, 29,238 shares were reserved for allotment to the employees of Comp. but only 8,350 share taken up.
- The balance of 1,93,345 shares, along with the unsubscribed portion of 20,888 shares out of employees quota, were offered to the Indian resident shareholders of Comp. in the proportion 11:50 [All were taken ups].
1990
- With effect from 1st April, Gujarat Glass limited [GGLs] was merged with the Company. As per the terms of scheme 16,50,000 No. of equity shares of Rs 10 each of Comp. were allotted to the equity shareholders of GGL without payment in cash in the ratio of one equity share of Comp. for every two shares held in GGL.
1991
- During the year, the new formulation plant at Pithampur in Madhya Pradesh was commissioned.
- The Comp. proposed to diversify the glass division activity into non-pharmaceutical field. The new TPD borosilicate plant was implemented.
- The Comp. proposed to undertake an ambitious expansion plan over the next two years by setting up soda lime plant of 65 TPD, relining and modernisation of BRS plant, doubling of present form fill seal capacity & setting up a bulk drug plant.
- 31,13,600 Bonus shares issued in prop. 1:1.
1992
- The Comp. was setting up a second formulation plant at Pithampur in Madhya Pradesh with the State-of-the-art manufacturing facilities. The plant was commissioned in March.
- During February/March the Comp. offered to shareholders 15,56,800 - 12.5% partly convertible debentures of Rs 100 each on rights basis in the ratio of 1 debenture: 4 equity shares held. Additional 2,33,520 debentures were allotted to retain oversubscription.
- Another 77,840-12.5% partly convertible debentures of Rs 10 each were offered to the employees of Comp. on an equitable basis. Additional 11,676 debentures were allotted to retain oversubscription.
- Part A of Rs 50 of each debenture was to be converted into 1 equity share of Rs 10 each at a premium of Rs 40 per share at the end of six months from the date of allotment.
- Part B of Rs 50 of each debenture was to be redeemed at par in three annual instalments of Rs 17, Rs 17 & Rs 16 respectively at the expiry of 8th, 9th & 10th years from the date of allotment.
- With effect from 2nd December, the name of Comp. was changed from `Nicholas Laboratories, Ltd.' to `Nicholas Piramal India, Ltd.'
- 18,79,836 shares allotted [prem. Rs 40 per shares] in part conversion of debentures.
1993
- The Comp. entered into a joint venture agreement with Allergan of U.S.A., the leading manufacturers of Ophthalmic products.
- 4,053,518 bonus equity shares issued in prop. 1:2 to the existing shareholders, 30,30,000 shares issued to Financial Institution at a price of Rs 330 per share.
1994
- The Comp. proposed to enhance manufacturing facilities at Pithampur to cater to the growing market reqirements of Pharma Division notably in Generics & Exports.
- A joint venture agreement was entered into with Sateliec, France for dental care products. Also proposed to set up a joint venture overseas-one in southern part of Africa & the other in Vietnam.
- 22,00,000 No. of Equity shares issued at a premium of Rs 80 per share on conversion of warrants issued along with Non-convertible debentures.
1995
- The Comp. entered into a scheme of arrangement with Sumitra Pharmaceutical & Chemicals limited [SPCLs] Hyderabad. Under the scheme bulk drug division of SPCL shall stand transferred & vested in the Company effective April.
- Anand Piramal Investments, limited & Swati Piramal Investments, Ltd. are subsidiaries of Company. 1996
- The Comp. has entered into a product tie-up with F. Hoffman-La-Roche & Boehringer Mannheim, both leads in Pharma research.
- The Flaconnage [Glasss] Division successfully commissioned 5 MW captive power plant at Kosamba to insulate the division from the vagaries of power availability & tariff increases.
- With effect from 1st April, Boehringer Mannheim India limited [BMILs] was merged with company. As per the terms of scheme 17,73,402 No. of Equity shares of Rs 10 each of Comp. were allotted to the equity share holders of BMIL in the ratio of 1 equity shares of company for every 2 shares held in BMIL.
- With effect from 1st April, the Comp. entered into a scheme of arrangement with Piramal Healthcare limited [PHLs]. As per the terms of the scheme 75,05,004 No. of equity shares of Rs 10 each of company were allotted to the equity shareholders of PHL in the ratio of 3 equity shares of Comp. for every 4 shares held by PHL.
1997
- The state-of-the-art 230 TPD plant for manufacture of sodaline containers at Jambusar near Baroda was commissioned with an investment of Rs 125 crores.
- NPIL has a joint venture with Allergan, US, for eye care products; Scholl, UK, for foot-care products, & with Cytran, US, for immunological products. The Comp. took over Jenkins Botswana, a formulation Comp. based in South Africa.
- Nicholas Piramal India Ltd [NPILs], the Rs.500-crore pharmaceutical major, has entered into a marketing agreement with Stryker Corporation of the US, for surgical & medical products.
- Piramal International has been incorporated with an initial capital of Rs.359 crore for entering into pharma joint ventures abroad.
- NPIL entered into an agreement with Reckitt and Colman for joint marketing of latter OTC products in India.
- Nicholas Piramal India Ltd [NPILs] & Ambalal Sarabhai Enterprises [ASEs] have entered into a 50:50 joint venture for marketing of human health products of ASE Suhrid-Geigy division. - Nicholas Piramal India Ltd [NPILs], Reckitt and Colman Plc & Reckitt & Colman of India [RCIs] on October 15, announced a three-way joint venture for marketing of over-the-counter [OTCs] products. NPIL and Reckitt and Colman Plc will hold 40 per cent each of Rs.10-crore equity of new company, Reckitt Piramal, & RCI, 20 per cent.
- Nicholas Piramal is transferring Aspro & Lacto Calamine to the joint venture, while Boots will bring in Strepsils & Sweetex besides some other brands.
- 10,39,410 shares allotted to shareholders of Sumitra Pharmaceutical & Chemicals limited pursuant to the scheme of arrangement with the company.
1998
- A memorandum of understanding has been signed with a major European chemicals Comp. to start manufacturing speciality chemicals with equity partnership. The final agreement is expected to be entered into in the next four to six weeks.
- Nicholas Piramal, a Comp. built by mergers & acquisitions, has acquired the basic research unit of Hoechst Marion Roussel [Indias] at Mulund on the outskirts of Mumbai for about Rs.20 crore.
- Nicholas Piramal is getting into a three-way joint venture in food additives, a completely new area of business for group.
- Nicholas Piramal India Ltd [NPILs] has forged a 49:51 joint venture with 274-million pounds Boots Healthcare International [BHIs] to develop and market consumer healthcare products in India.
- Nicholas will form a new Comp. in which it will hold 50 per cent stake, with up to three foreign partners sharing the remaining equity.
1999
- Nine products were launched in the first nine months of year including Recormon, Accutrend, Amexyl, Orthrobid Gel & Carvetrend.
- Nicholas Piramal India Ltd [NPILs] has become the first Indian pharmaceutical Comp. to join the Industrial Liaison Programme [ILPs] of Massachusetts Institute of Technology [MITs], USA.
- Nicholas Piramal India Ltd, the pharmaceutical major, has identified an anti-cancer molecule at its research centre for which it wants to file a global patent application. - Nicholas Piramal has entered into an arrangement with the UK-based Norton Healthcare to develop three formulations set to go off patent by 2000.
2000
- The Comp. has to raise capital by way of international offering by issue of securities through ADRs/ADS, for an amount upto US$ 100 million.
- The Comp. has signed an agreement with the CSIR-affiliated Centre for Biochemical Technology for collaborative research in the field of gene technology.
- The Comp. has entered into a research alliance with Hindustan Lever for developing 'Cosmoceuticals' & personal care products.
- The Comp. & Banner Pharmacaps [Indias] announced that they had signed a memorandum of understanding to manufacture several of NPIL's nutraceutical products as soft gelatin capsules.
- The Comp. is launching a slew of new products in 2000-01 as its targets a sales growth of 20 per cent in the current fiscal.
- The Industrial Paints Division of Comp. would be hived off into a separate joint venture Comp. with an international player.
- Nicholas Piramal India limited [NPILs] has tied up with the Centre for Biochemical Technology [CBTs] for conducting basic research in genomics.
- The Comp. has entered into a `knowledge-based' collaboration with the Centre for Biochemical Technology for study of genomics.
- The Comp. acquired a 40 per cent stake in Rhone-Poulenc India Ltd -- which makes it the second largest pharmaceutical group in India.
2001
- Nicholas Piramal India has pulled out of its 50:50 joint venture with the UK-based Scholl Plc [now known as Seton-Scholl Healthcare Plcs].
- Nicholas Piramal group is close to acquire a 27.72 per cent equity stake in German Remedies limited at a price of Rs 400-425 per share.
- The Comp. has entered into a strategic alliance with MDIndia Healhtcare Services Pvt. limited where NPIL will sponsor five Internet hub centres [IHCss].
- Nicholas Piramal India & the Reckitt Benckinser group are planning to alter the nature of their joint venture, Reckitt Piramal.
2002
-ICI India transfers pharmaceuticals business to Nicholas Piramal.
-The Board of Directors of Nicholas Piramal India Ltd on October 24, 2002 considered and approved the appointment of Mr S Ramadorai as Director of Comp. & Dr Swati A Piramal has been re-appointed as Director in Wholetime employment of Comp. [designated as Director Alliances and Communicationss] for a period of five years.
2003
-NPIL introduces 10 new anti-allergic drug through newly formed repiratory division ACTIS.
-NPIL is all set for an expansion abroad by setting up subsidaries in the lucrative US and South East Asian Markets.
-Nicholas Piramal India has launched 'a new generation anti-allergic' called 'Airitis' to combat allergic rhinitis in the country.
-NPIL has decided to phase out its version of drug, Orthobid & replace it with Vah [ valdecoxibs], which is said to be a better drug with no side effects.
-NPIl has entered into an agreement with the US base Minrad Inc. for exclusive distribution & marketing of a new generation of inhalation anesthetic products.
-NPIL stopped the Frame Co-operation Agreement with F Hoffman La Roche.
-NPIL with a capital investment of Rs 4-5 cr is expanding the capacity of its Contract Research Organization[CROs].
-Nicholas Piramal India Ltd has procured Rs.10 million foreign loan through External Commercial Borrowing[ECBs] arranged by Rabo Bank International.
-NPIL has informed the changes in the board of directors 1. Mr. R A Shah, Mr. M R Shroff, & Mr.G P Goenka who were retiring are re-appointed as directors. 2. Mr. Rajesh Khanna, Mr. Deepak Satwalekar & Mr S Ramdorai are appointed as directors.
-Nicholas Piramal India and Advanced Medical Optics sign agreement for supply of products
-The country second largest pharamceutical company, Nicholas Piramal India Ltd [NPILs], has undergone major changes at the top level. Four senior officials of Comp. have relinquished their posts. They are: NPIL senior vice-president finance V Hariharan, president [Actis divisions] Sainath Iyer, vice-president [exportss] SM Raina, & vice- president [knowledge resourcess] Srikumar Chattopadhyay. The Comp. has already made replacements for vacant posts. Rajesh Ladda has joined NPIL as the company new senior vice-president [finances]. Sailesh Gadre has joined as president [Actis divisions]. Ananth Narayan will be the new vice-president [exportss], while Sohail Abidi is the company new vice-president [knowledge resourcess].
2004
-Nicholas forges alliance with scientists from Imperial College of UK to carry out research in the field of rheumatoid arthritis
-Pharma major Nicholas Piramal India Ltd [NPILs] has entered into a research collaboration with the Bangalore-based Indian Institute of Science [IIScs] to identify potential new targets for developing drugs to treat fungal infections.
- Nicholas Piramal revamps operations
-Nicholas Piramal seals an In-Licensing Agreement with Genzyme Corporation for Indian Market
-Nicholas Piramal India has set up a new research and development centre in Chennai that is to complement its partnership with the Anna University in the area of drug discovery
-NPIL joins hands with NII for research on inflammation drugs
-Nicholas Piramal - In-licensing Agreement with Ethypharm, France
- Nicholas Piramal India Ltd [NPILs] Wellquest, the independent clinical research division becomes the first Indian CRO [Clinical Research Organizations] to receive the Statement of GCP [Good Clinical Practicess] Compliances from the UK MHRA [Medicines and Healthcare Products Regulatory Agencys], for clinical studies carried out to support the registration of generics products in the international regulated markets.
-NPIL ties up with 7 global pharma firms
2005
-Nicholas Piramal acquires Avecia Pharmaceuticals, UK
2006
-Nicholas Piramal signs agreement to acquire Pfizer Morpeth, UK Facility with potential outsourcing revenues exceeding US$35
-Nicholas Piramal India limited has informed regarding a press release dated November 17,2006, titled 'BioSyntech signs scientific collaboration agreement with Nicholas Piramal'.
2007
-Nicholas Piramal India Ltd & Napo Pharmaceuticals, Inc on January 22, 2007 announced that they have entered into a Plant Screening Agreement to discover novel diabetes therapeutic agents.
- Nicholas Piramal has spun off its new chemical entity & herbal drug research division into a stand-alone Comp. with plans to list it on the stock exchanges.
- Nicholas Piramal India Ltd has forayed into a 49:51 joint-venture with Japan-based Arkray Inc to market diagnostic products.
