Piramal Enterprises arm acquires UK-based Abacus International
Diversified group Piramal Enterprises's subsidiary Decision Resources Group has acquired UK-based integrated market access service provider Abacus International for an undisclosed sum.
New Delhi: Diversified group Piramal Enterprises's subsidiary Decision Resources Group has acquired UK-based integrated market access service provider Abacus International for an undisclosed sum.
The acquisition will result in a significant global expansion of Decision Resources Group's market access capabilities, Piramal Enterprises today said in a statement.
"Abacus in an important acquisition in Decision Resources Group's (DRG) overall strategy to expand our market access capabilities and offer our clients the most innovative, high-value advisory solutions," DRG CEO Peter Hoengsberg said, adding it would boost the company's position in Europe as in important resource for healthcare firms worldwide.
Abacus will be a part of the market access business unit at Decision Resources Group (DRG) which currently includes the brands, Fingertip Formulary, HealthLeader-InterStudy, PharmaStrat and Pinsonault, the company said.
Commenting on the acquisition, DRG President-Market Access Business Unit Jim Lang said: "Besides expanding our global market access services and products, the acquisition also allows us to now offer market access capabilities for the medical device and industry-leading mobile communication tools."
Abacus International CEO Simon Howard said the deal would help the firm in becoming a fully integrated global market access solutions provider. The company will continue to be headquartered in Bicester, England, the statement added.
In May this year, Piramal Enterprise had announced acquisition of US-based firm Decision Resources Group for a consideration of nearly $635 million (Rs 3,400 crore) to boost research and development. Scrips of Piramal Enterprises were trading at Rs 494 per share during the afternoon trade, up 0.28 percent from the previous close on the BSE.
Piramal Enterprises on Monday said it has received $900 million (around Rs 6,500 crore) on completion of divestment of stake in its healthcare insights and analytics business to US-headquartered Clarivate Analytics
Piramal owns an 11 percent stake in Vodafone India Ltd, which is the country's second-biggest phone carrier. Piramal had bought the stake in two stages for a total of about Rs 5,900 crore
In May this year, Ajay Piramal-led Piramal Enterprises had entered into an agreement to acquire four brands from Pfizer for a consideration of Rs 110 crore