Drugmaker Piramal Healthcare is buying US-based healthcare data provider for $635 million to boost research and development.
Mumbai-based Piramal Healthcare, controlled by billionaire Ajay Piramal, has been looking to expand its R&D portfolio after it sold its India formulations business to US-based Abbott Laboratories for $3.7 billion in 2010.
Piramal Healthcare aims to close the acquisition of Decision Resources Group, based in Burlington, Massachusetts, by June-end. Decision, which has about 300 analysts, is likely to bring in revenues of $160 million in 2012.
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