In 2 years, NPIL aims to be diagnostics leader

The diagnostics division of pharmaceutical major Nicholas Piramal India (NPIL) is planning to become one of the top three diagnostics players in the domestic market over the next two years through acquisitions and by introducing new in-licensed and inhouse-developed diagnostic products.

The company had introduced a portable electronic device to lower blood pressure through paced breathing on Thursday.

It hopes to more than double its annual turnover of Rs 40 crore by banking on the new blood pressure control device 'Resperate', which was in-licensed from Israel-based diagnostics company Intercure, and from the self-monitoring blood glucose systems to be introduced in the Indian market through a joint venture with Arkray of Japan, said company officials.

"We will in-license some more products and develop a few new products of our own. NPIL has invested substantially in the research and development of diagnostics devices," said Swati Piramal, director, strategic alliances, NPIL.

Officials said the company would also look at growing through acquisitions. Currently, NPIL is in the process of conducting due diligence of 2-3 laboratory reagent manufacturers in Europe, with a turnover of about Rs 300 crore.

"We have not finalised the targets for acquisition," said an executive. The Indian diagnostics and medical devices market was currently dominated by multinationals such as Johnson and Johnson and Roche Diagnostics, said sources.

At the launch of Resperate in India, Swati Piramal said it was the first and only medical device cleared by the US Food and Drug Administration for adjunctive treatment of hypertension.

NPIL hopes to sell about 4,000 units in the first few months as an over-the-counter product at a price of Rs 13,300 per unit.

A portable electronic device that helps lower blood pressure naturally, the device monitors blood pressure levels and helps control breathing with the aid of musical signals.

Studies have shown blood pressure to come down significantly within a week when the product is used for about 15 minutes a day, said the officials.

According to George Varghese, senior vice president, diagnostics, NPIL, the company is in the process of adding a 60-member team to market the devices, which is to be launched by April.