Piramal Healthcare acquires US research firm for Rs 3,400 cr

Pharmaceutical major Piramal Healthcare Ltd today said it has completed the acquisition of US based research firm Decision Research Group (DRG) and paid Rs 3,400 crore to stay ahead in the race to acquire strong intellectual properties in the highly promising healthcare space.

Commenting over the acquisition, Ajay Piramal, Chairman of the Piramal Healthcare said, "The successful acquisition of healthcare information and analytics leader, DRG, reflects our strategy to continue investing in intellectual properties".

DRG, claiming to have grown with 20 per cent CAGR for last five years, provides web-based research, predictive analytics via proprietary databases and consulting services to the global healthcare industry.

Shares of the company were quoting at Rs 432 a piece, down 1.32 per cent from previous close on BSE at 10:59 hours.

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