Nicholas Piramal & Pierre Fabre Laboratories sign agreement

Nicholas Piramal India Ltd has announced that in the framework of agreements concluded during the visit of the President of the French Republic, Nicolas Sarkozy, to New Delhi, the Company and Pierre Fabre Laboratories signed an MOU on research in oncology on January 25, 2008.

This agreement formalises the collaboration between the two pharmaceutical laboratories specialising in research on natural substances. It involves bringing together two complementary areas of expertise. The Pierre Fabre Group will provide expertise in screening and research in oncology, while NPIL will make available its natural products base, which will lead to the pharmacological characterisation of new molecules.

Mr. Ajay Piramal, Chairman of the Company stated, "This agreement further strengthens our strategic partnership with Pierre Fabre, wherein we market the Company's products for oncology and dermato-cosmetics in India. The research collaboration in oncology is an important milestone in the strong relationship between the two Companies".

This agreement forms a part of the strategy of Pierre Fabre Laboratories to reinforce their presence in India and open new avenues of collaboration in the field of oncology research, which today represents 50% of the R&D investments of the Group.

In India, marketing agreements have previously been signed with NPIL: in 2004, with the market launch of Ducray and, thereafter, in 2006, when Navelbine was launched.

Nicholas Piramal - scheme of arrangment

Nicholas Piramal India Ltd (NPIL) has informed that February 22, 2008 has been fixed as the Record Date for the purpose of determining entitlement of equity shareholders of NPIL to receive equity shares of NPIL Research & Development Ltd (NRDL), pursuant to the Scheme, in the ratio of 1:10 i.e. 1 (one) equity share of Rs 10 of NRDL credited as fully paid up to be allotted for every 10 (ten) equity shares of Rs 2 each held in NPIL as on the said Record Date.

Nicholas Piramal Q3FY08 Results

Nicholas Piramal India Ltd has announced the following Audited results for the quarter ended December 31, 2007:

The Company has posted a net profit of Rs 738.20 million for the quarter ended December 31, 2007 as compared to Rs 433.00 million for the quarter ended December 31, 2006. Total Income has increased from Rs 4080.40 million for the quarter ended December 31, 2006 to Rs 4921.80 million for the quarter ended December 31, 2007.

The Unaudited Consolidated results are as follows:

The Group has posted a net profit of Rs 727.60 million for the quarter ended December 31, 2007 as compared to Rs 555.50 million for the quarter ended December 31, 2006. Total Income has increased from Rs 6497.00 million for the quarter ended December 31, 2006 to Rs 7363.50 million for the quarter ended December 31, 2007.

Nicholas Piramal scheme of arrangement

Nicholas Piramal India Ltd pursuant to the meeting of the Equity Shareholders and Series II Preference Shareholders of the Company at its court convened meeting held on November 23, 2007, have approved the Composite Scheme of Arrangement between the Company and NPIL Research & Development Ltd, by overwhelming requisite majority.

Nicholas Piramal - Merck Deal

Nicholas Piramal India Ltd (NPIL) has informed that the Company and Merck & Co Inc., which operates in India through its subsidiary, MSD Pharmaceuticals Pvt Ltd, on November 19, 2007, announced a research and development collaboration agreement to discover and develop new drugs for two selected targets provided by Merck.

NPIL will be responsible for carrying out an integrated drug discovery program from hits to leads through pre-clinical candidate selection, followed by Investigational New Drug (IND)-enabling non-clinical studies and human clinical trials demonstrating proof-of-concept primarily for Oncology. Merck will have an option to advance the most promising drug candidates into late stage clinical trials and to commercialize these drug candidates. NPIL will be eligible to receive milestone payments associated with progress in the development of drug candidates of up to $175 million per target, plus royalties on sales of any products resulting from the collaboration.

Commenting on the collaboration agreement, Dr. Swati Piramal, Director - Strategic Alliances & Communications, NPIL said: "The Merck-Nicholas Piramal research collaboration is a major step in bringing the cross-border synergies to drug development which should have cost, quality and time advantages and should benefit patients worldwide in reducing the burden of disease."

Nicholas Piramal Scheme of Arrangement

Nicholas Piramal India Ltd pursuant to the order made by the Hon'ble High Court of Judicature at Bombay, a meeting of the Equity Shareholders of the Company will be held on November 23, 2007, for the purpose of considering and if thought fit, approving, with or without modification, the arrangements embodied in the Composite Scheme of Arrangement ("the Scheme") between the Company and NPIL Research and Development Ltd.

Further the Company has informed BSE that pursuant to the order made by the Hon'ble High Court of Judicature at Bombay, a meeting of the Shareholders of the 5%- 2,33,72,280 Cumulative Redeemable Preference Shares of Rs 10 each (""the Series II Preference Shareholders") of the Company will be held on November 23, 2007, or soon after the conclusion of the meeting of the Equity Shareholders which has been convened on the same date by the Hon'ble High Court of Judicature at Bombay vide its aforesaid Order, whichever is later, for the purpose of considering and if thought fit, approving, with or without modification, the arrangements embodied in the Composite Scheme of Arrangement ("the Scheme") between the Company and NPIL Research & Development Ltd.

Religare - Nicholas Piramal

Religare recommends a BUY on Nicholas Piramal

Target price of Rs 332

CRAMS to lead growth

Edelweiss - Nicholas Piramal

Edelweiss has a BUY on Nicholas Piramal.

At the CMP of INR 288, the stock is trading at 21.9x and 16.7x (before R&D de-merger) and 18.4x and 14.1x (post de-merger) their FY08E and FY09E earnings.

Nicholas Piramal India Ltd

Nicholas Piramal India Ltd. has informed the Exchange vide its letter dated September 04, 2007 that "Mr. Michael J. Fernandes-Executive Director (CMG) has resigned from the services of the Company for personal reasons".

Kotak - Nicholas Piramal

Kotak has a HOLD on Nicholas Piramal.

They have a target price of Rs 320. Demerger is earnings accretive

Sharekhan - Bajaj Auto, Nicholas Piramal

Sharekhan upgrades Bajaj Auto to BUY with a price target: Rs 2550

Sharekhan has a price target of Nicholas Piramal with a target price of Rs 326