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Friday, May 21, 2010

Piramal Healthcare to remain in pharma biz - chairman

Indian drugmaker Piramal Healthcare, which sold its pharmaceutical solutions business to Abbott Laboratories Inc, will remain in the industry and invest in remaining businesses, Chairman Ajay Piramal said on Friday.

Abbott said it would pay $3.72 billion to acquire Piramal's pharmaceutical solutions business as global drugmakers look to boost their presence in emerging markets.

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