Nicholas Piramal''s new business strategy
04 Mar 2002
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In a newsletter, NIL chairman Ajay Piramal said his company has rationalised the product and business mix to release sub-optimally utilised resources. "This process has resulted in dropping unprofitable brands, divesting non-core brands, introducing only products where the company would be in the first five in the respective market and divesting unprofitable business tie-ups with multinational companies like Stryker and the US Surgical and Scholl Pharma."
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The new strategy in the cardiovascular segment will also include the company phasing out some of its small-turnover, low-potential brands in this segment. The drugs that may face the axe include Carvetrend, Oricar, Cardules, Bezalip and Acinopril.
Similarly, the officials say, the company has already started the transformation of various divisions like multi-speciality and extra care, RP division, vitamin and fine chemicals, diagnostics, biotech, pathlabs, Rickitt Pirimal and Boots Piramal. "We are looking for a strategic joint-venture partner in its biotech division, while in the pathlabs division we have adopted a ‘growth through acquisition’ strategy."
Close on the heels of acquiring ICI India’s pharma business in January this year, the company has entered into a strategic tie-up with the Hyderabad-based Gland Pharma. The tie-up is mainly for launching a new cardiovascular drug, Enoxaparim. Under the tie-up arrangement, Gland Pharma will manufacture the new drug, while Nicholas Piramal will undertake the marketing of the drug.