Piramal Enterprises is currently the top gainer on the BSE and been a gainer for the past three consecutive days. The stock rose over 6.5% to hit an intraday high at Rs.1316.85. Its 10% UC for the day is at Rs.1382.85.
The stock continues to rise on the same news – Piramal Pharma Solutions (PPS), the contract development and manufacturing organisation (CDMO) arm of the diversified Piramal Enterprises acquiring solid oral dosage drug manufacturing facility from the US-based G&W Laboratories.
No financial details were divulged but the company said that the transaction will see Piramal Enterprises fully acquire the firm that operates the facility in Pennsylvania’s Sellersville. It will help expand PPS’s product offerings by adding solid oral dosage capabilities such as tablets and capsules.