Nicholas Piramal plans acquisition in UK, N America

Pharmaceutical major Nicholas Piramal India Ltd (NPIL) today said the company was looking for acquisitions in the United Kingdom and North America to expand its overseas operations.

"We are looking at acquisition in UK and North America," Chairman NPIL Ajay G Piramal told reporters on the sidelines of India Economic Summit 2005.

"We are not looking for acquisition to make generic copies of existing drugs, but we are interested in process development and manufacturing new molecules through the acquisitions," he said.

When asked about the market in those countries where the company plans to have a footprint, Piramal said: "We are looking for acquisition to provide drugs in the global market and not just looking at the market in those particular countries."

Speaking about the production of Tamiflu drugs, he said: "We are in discussion with Swiss pharma company Roche, but the talks are at a very preliminary stage."

He added, "Whenever we produce Tamiflu drugs, it will not be in conflict with the parent company.''