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World Money Crisis Causes India’s Piramal To Delay Raising Funds

This article was originally published in PharmAsia News

Executive Summary

India's Piramal Life Sciences says it has to put off launching a strategic stake sale as a way to raise funds, citing the global financial crisis. PLSL used to be the research and development arm of Piramal Healthcare until it was split off. Swati Piramal, director of the Piramal Group, said PLSL does not need immediate funds to continue operating, so it will defer its fund-raising plans until the world financial situation improves. (Click here for more

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