The Ajay Piramal-led Piramal Enterprises will demerge its healthcare and financial services businesses soon, a top company official said on Monday. “We want to ultimately look at Piramal Enterprises as separate business for pharmaceuticals and financial services. In the medium term we will do that. All our acquisitions, and in some ways moving up in value chains and getting more critical mass are steps towards that,” Piramal Enterprises Chairman Ajay Piramal told reporters here.
Declining to give a time-line, Piramal said “we have not yet fixed time line. I think the Board will decide, but the direction is moving towards that.” Ajay Piramal curtailed his presence in healthcare after he sold erstwhile Piramal Healthcare's domestic formulations division for $3.7 billion to Abbott in 2010. The company entered into the finance business through strategic investments and joint ventures.
